(Reuters) - Mexican President Andres Manuel Lopez Obrador said on Tuesday that his government will ask state-oil company Pemex to reveal information regarding the alleged receiving of bribes from Vitol, the world's largest independent energy trader. Reuters revealed last year that Petroleos Mexicanos (PEMX.UL), as the company is formally known, had deepened investigations into the... Continue Reading →
(Reuters) - Mexican national oil company Pemex (PEMX.UL) on Monday reported a $6.17 billion first-quarter net profit, reversing a nearly $2 billion loss in the year-ago period, driven by foreign exchange gains, growing output and higher crude prices. Total financial debt at Pemex, one of the world's most indebted oil companies, edged down slightly to... Continue Reading →
(Reuters) - A major Pemex oil refinery under construction in Mexico is running over budget and unlikely to come online this year as promised, according to documents seen by Reuters and sources close to the project, despite being a presidential priority. The Olmeca refinery has an official $8.9 billion price tag approved by the board... Continue Reading →
(Reuters) - Mexico's cash-strapped state oil firm Petroleos Mexicanos (Pemex) is under pressure to resume financial debt repayments despite promises from President Andres Manuel Lopez Obrador that his government would pay them until 2024. On Thursday, Pemex (PEMX.UL) is due to pay some 1 billion euros to redeem a 2015 bond, two sources with knowledge... Continue Reading →
(Reuters) - Brazil's economy has entered a phase of stagnation that will persist next year as unrelenting inflation curtails consumer spending and policymakers struggle to find answers, a Reuters poll showed. Risks are tilted to the downside, with a potential relapse into contraction in the cards due to worries about a prolonged Russian offensive in... Continue Reading →
(Reuters) - Top oilfield services firm Schlumberger (SLB.N) reported a higher first-quarter profit on Friday and increased its dividend by 40%, as rising oil prices boosted demand for services and equipment. Oil prices climbed to their highest in more than a decade during the quarter as Russia's invasion of Ukraine upended global supply dynamics. Oilfield service firms,... Continue Reading →
Global completions specialist Tendeka has appointed a new business development manager for Latin America to expand the use of technologies across the region. Maurilio Solano will be working with local operators to implement Tendeka’s key technologies such as FloSure, Filtrex and PulseEight EAV (Electronic Ambient Valve) across Latin America. With almost 30 years in the... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 02/16/22, informs that today it started the binding phase regarding the sale of the entire 20% stake held by its subsidiary Petrobras America Inc. (PAI) in the company MP Gulf of Mexico, LLC. (MPGoM), located in Texas, USA, which owns offshore fields in... Continue Reading →
Italian oil and gas company Eni has offloaded and exported the first oil cargo from the Miamte FPSO, operating at the Miztón, Amoca, and Tecoalli fields in Area 1, Gulf of Mexico. Achieved on Thursday, this marks an important milestone for the oil and gas sector in Mexico, with Eni being the first international energy... Continue Reading →
(Reuters) - Record volumes of fuel oil from Latin America landed in the United States in March, customs data showed, as refiners snapped up alternatives to Russian feedstocks ahead of Washington's April 22 deadline to end U.S. imports of Russian oil. U.S. Gulf Coast refiners that use fuel oil to supplement heavy crude went hunting... Continue Reading →
