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(Reuters) - Petroleos Mexicanos (Pemex) is ready to invest billions of dollars in a disputed major Gulf of Mexico oil field once its U.S. partner Talos Energy accepts Pemex will run the project, the chief executive of the Mexican state oil company said. The 850-million-barrel Zama field has become a bone of contention under President... Continue Reading →
(Reuters) - Mexican national oil company Pemex reported on Thursday itssecond-quarter net profit jumped more than nine-fold to $6.53 billion due in part to higher sales plus tax benefits. Revenue for the company, formally known as Petroleos Mexicanos,soared nearly 89% to 655.2 billion pesos. Meanwhile, debt during the three-month period ending in June held steady... Continue Reading →
Rystad Energy, an energy intelligence group, has revealed that Guyana’s burgeoning offshore oil and gas industry is poised to enter the big league with revenues set to break the $1 billion mark in 2022 and see a significant annual acceleration in 2030. This boost in revenue is powered by the Stabroek block, according to Rystad Energy’s research,... Continue Reading →
Mexican national oil and gas company Pemex has taken over the ownership and operation of the FPSO operating on the second largest offshore oil complex in Mexico from Norway’s FPSO operator BW Offshore. BW Offshore revealed on Sunday that Pemex has assumed the ownership and operation of the FPSO Yúum K’ak’náab – known as El Señor del Mar (The Lord of the Sea) – with effect... Continue Reading →
(Rigzone) In the coming years, upstream capex in Latin America will shift into deeper and deeper water with Brazil, Guyana, and Mexico likely to lead the charge for new spending, Rystad Energy said. While onshore investments stabilized at around $14 billion and shallow water spending continues to decline, deepwater expenditure is projected to grow at... Continue Reading →
U.S. LNG company Sempra Infrastructure and Mexico’s state-owned utility CFE are to jointly develop energy infrastructure projects in Mexico, including the proposed Vista Pacífico LNG project, and the potential development of an LNG terminal in Salina Cruz, Oaxaca. On 21 July, Sempra Infrastructure, a subsidiary of Sempra, and Mexico’s Federal Electricity Commission (Comisión Federal de... Continue Reading →
(Reuters) Mexico's state oil company Petroleos Mexicanos (Pemex) disclosed the names of two former managers that allegedly received bribes from the world's largest independent commodity trader, Vitol, newspaper Reforma reported on Friday, citing independent journalism organization Quinto Elemento Lab. Citing a document obtained through the Mexican transparency institute, Quinto Elemento named the two former general... Continue Reading →
The world market for the supply of underwater Christmas trees should have Brazil as the main stage during this third quarter. In a survey carried out by Westwood Energy, the main contracts of the type expected for the period between July and September should include Shell's Gato do Mato projects in the Santos basin; Maromba,... Continue Reading →
(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 →
Brazil Energy Insight 