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(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 →
(Reuters) - The United States and Mexico are working through disputes involving American companies in the Mexican energy sector worth more than an estimated $30 billion in investment, the U.S. ambassador to the country said on Wednesday. In an interview with Reuters, Ambassador Ken Salazar said his government was making progress in resolving problems affecting... Continue Reading →
Global energy supermajor ExxonMobil and its partners Hess and CNOOC have made an astonishing number of high-quality oil discoveries in offshore Guyana. In April 2022 Exxon announced that it made three more discoveries in the 6.6-million-acre Stabroek Block, where it is the operator holding a 45% interest with 30% owned by Hess and the remaining 25% held... Continue Reading →
(Reuters) - Mexican President Andres Manuel Lopez Obrador said Wednesday the country expected crude processing in six state-run Petroleos Mexicanos (Pemex) refineries to increase to 1.2 million barrels per day, up from the current level of 840,000 barrels per day. Lopez Obrador said in a regular news conference that the Olmeca refinery along the coast... Continue Reading →
(Reuters) - Mexican state oil company Petroleos Mexicanos released thousands of tons of methane gas into the atmosphere from an oil and gas platform in the Gulf of Mexico last December, research published on Thursday by the European Space Agency (ESA) showed. Invisible and odorless, but much more harmful to the environment than carbon dioxide,... Continue Reading →
(Reuters) - The Mexican government is close to reaching a deal with U.S.-based Talos Energy over the future of a potentially lucrative shared crude discovery, the president said on Friday. The handling of Zama, a deposit holding some 900 million barrels and located offshore in the southern Gulf of Mexico, which provoked a battle over... Continue Reading →
(OE) Forecasters on Thursday amped up their outlook for the U.S. Atlantic hurricane season, saying warm sea temperatures and the absence of a moderating wind shear portend a "well-above average" number of storms. Colorado State University researchers raised their estimate for tropical storms, hurricanes and major hurricanes by one apiece to 20, 10 and five, respectively. There is a... Continue Reading →
(Reuters) - Mexico's heavily indebted state oil company Pemex said on Tuesday it will cover $2 billion in debt with suppliers and contractors through a peer-to-peer refinancing program that will offer the firm's 2029 global notes with an 8.75% coupon. Pemex said it "structured a mechanism to exchange commercial debt for financial debt, an attractive... Continue Reading →
(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 →
Brazil Energy Insight 