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(Reuters) Mexico's state-owned oil company Pemex plunged deeper into so-called junk status on Monday after a major credit rating agency downgraded its long-term debt by one notch. Moody's Investors Service cut Pemex's credit rating to B1 from Ba3, or four notches into the agency's speculative status, reflecting a higher risk of default for the company formally known... Continue Reading →
(OM) Petrobras has awarded Tenaris a four-year contract for the supply of a comprehensive package of products and services for its Buzios deepwater project. Located in the presalt Santos Basin, Buzios production is expected to reach 2 MMbbl/d by 2030, up from a current 0.7 MMbbl/d. This equals approximately 70% of today’s total production in Brazil. The total... Continue Reading →
(OE) After Mexico's Pemex said Sunday it had signed a deal with the U.S. firm New Fortress Energy (NFE) to develop the Lakach deepwater gas/condensate field, the confirmation also came from NFE, which shared more info on the development plan. The agreement involves the joint development of the Lakach deepwater natural gas field for Pemex... Continue Reading →
As energy security concerns continue to grow unabated due to the current geopolitical crisis, Rystad Energy, an energy intelligence group, has predicted that the considerable drop in the total recoverable oil worldwide from last year’s figures represents another threat to global energy security. Each year Rystad Energy releases its own analysis of the global energy... Continue Reading →
New Fortress Energy Inc. (NASDAQ: NFE) (“NFE”) today announced that it has entered into an agreement with Comisión Federal de Electricidad (“CFE”) as part of a growing strategic alliance supported by His Excellency Andrés Manuel López Obrador, the President of Mexico, and by Manuel Bartlett, the CEO of CFE. The agreement involves (i) expanding and... Continue Reading →
(OE) Mexican oil and gas company Pemex has signed a letter of intent with the U.S.-based company New Fortress Energy to resume work on a $1.5 billion offshore gas project in Mexico, Pemex Chief Executive Octavio Romero said on Friday. The agreement is for the development of the long stalled the Lakach non-associated deepwater gas... Continue Reading →
(Reuters) - Mexican President Andres Manuel Lopez Obrador formally opened a major new oil refinery on Friday, a signature project for the leftist leader who argues it will help the country cut a longstanding dependence on foreign gasoline and diesel supplies. The Olmeca refinery owned and operated by state-run oil company Pemex is billions of... Continue Reading →
(Reuters) - Mexico's state-owned oil company Pemex (PEMX.UL) substantially increased crude oil exports to the North American market in May, according to the firm's most recent report, which shows a significant cut in shipments to Europe and Asia. Pemex said its crude exports averaged 965,000 barrels per day (bpd) in May, and some 740,000 bpd... Continue Reading →
(Reuters) - A new oil refinery under construction on Mexico's southern Gulf coast will probably cost between $11-12 billion, rather than the $8 billion originally estimated, President Andres Manuel Lopez Obrador said on Friday. Lopez Obrador told a news conference that the flagship project in the port of Dos Bocas owned and operated by state-run... Continue Reading →
(Reuters) - Mexico's hydrocarbon regulator is investigating state oil company Petroleos Mexicanos (Pemex) over suspected excessive natural gas flaring and other violations at another giant field, according to two sources with direct knowledge of the matter. In 2019, Pemex, which is under international pressure to clean up its operating practices, hailed the Quesqui field in... Continue Reading →
Brazil Energy Insight 