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Sept. 25 (OE) Dutch-based SBM offshore has cut the first steel for Chalchi floating storage and offloading (FSO) at COSCO Shipyard in China, marking the start of construction of the unit bound for deployment at Trion deepwater oil field, offshore Mexico. The FSO’s name, Chalchi, is inspired by Chalchiuhtlicue, the Aztec water deity, symbolizing the... Continue Reading →
Sep 15 (Reuters) - Mexico launched on Monday a three-tranche bond issue for up to 5 billion euros ($5.88 billion) to partially finance a $9.9 billion bond buyback from state-run oil company Pemex, LSEG's fixed-income news service IFR reported. The issue consists of four-year bonds for up to 2.25 billion euros, eight-year bonds for 1.5 billion... Continue Reading →
Sept. 3 (Reuters) Mexican state oil company Pemex signed its first mixed contracts with private sector partners in a bid to reverse declining hydrocarbon production, according to President Claudia Sheinbaum's government report delivered to Congress. The 11 deals, signed under a new contractual framework stemming from the latest energy sector reform, mark the initial phase... Continue Reading →
AUG.13 (Offshore Technology) Colombia's state oil company Ecopetrol, has reported a 46% decrease in net profit for the second quarter (Q2) due to declining global oil prices and slight production decreases. The company's net profit fell to approximately $450m (1.81trn pesos), down from the previous year's equivalent of $840m, with total sales also decreasing by... Continue Reading →
Aug 5 (Reuters) - Mexico's government on Tuesday said it aimed to cease funding Pemex by 2027 when the highly-indebted state energy company should become financially self-sufficient, helped by a series of measures to bring down debt and stabilize production. Mexican President Claudia Sheinbaum, flanked by her energy and finance ministers and the chief executive... Continue Reading →
(OE) Texas-based oilfield services company Weatherford has secured a significant contract to deliver Managed Pressure Drilling (MPD) services for the Trion project, a deepwater oil production project in Mexico operated by Woodside’s Mexican subsidiary. The multi-year contract includes MPD services for an initial eight wells with the potential to expand to 24 wells. As part... Continue Reading →
July 28 (Reuters) - Mexican state energy company Pemex on Monday reported a net profit of 59.52 billion pesos ($3.17 billion) for the second quarter of this year, helped largely by a more favorable exchange rate. Like most of its Latin American peers, Pemex is essentially a dollar-denominated state company, including for the vast majority... Continue Reading →
(OE) U.S.-based low-carbon marine power, data, and service solutions provider Ocean Power Technologies (OPT) has signed a new reseller agreement with a Latin America-based partner focused on supporting the Mexican offshore and maritime markets. The partnership significantly expands OPT’s commercial footprint across Latin America, leveraging the reseller’s regional presence and relationships within Mexico. Under the... Continue Reading →
(Reuters) - Top oilfield services firm SLB narrowly beat Wall Street expectations for second-quarter profit on Friday, as resilient demand in parts of its international business helped offset drilling slowdown in North America, Mexico and Saudi Arabia. SLB, the first of the Big Three U.S. oilfield services provider to report quarterly results, had previously flagged weaker drilling activity... Continue Reading →
(OE) Texas-based oilfield services provider Expro has secured a three-year contract by Woodside Energy to provide tubular running services (TRS) and cementing services for the Trion project, Mexico’s first deepwater oil production facility. Woodside and Expro have a long-standing partnership, with Expro supporting well construction activities in Mexico during the exploration phase. As part of... Continue Reading →
Brazil Energy Insight 