(Bloomberg) - Petroleos Mexicanos returned to capital markets Thursday for its first debt sale since January as the embattled oil producer seeks to tap improved demand from investors. Pemex sold $1.5 billion in five-year bonds with a 6.95% yield, up from the $1 billion originally offered with a guidance price in the mid-to-high 7% range.... Continue Reading →
The South American Deepwater Sector
2020 set the stage for a profound transformation in the oil and gas industry. The oil and gas industry was already facing a challenging transition process as economies move toward a low-carbon future; however, surviving and prospering in a low-oil-price and high-risk environment is an even greater and more urgent challenge. Producers with relatively high-cost... Continue Reading →
Brazil among the top world oil producers
Leveraged by the pre-salt, Brazil was the fifth country that most increased oil production between 2011 and 2019, in the world. One of the main highlights of oil geopolitics in the decade of 2010, the expectation is that Brazil's relevance in the global market will increase even more in the coming decades. Valor’s Survey, based... Continue Reading →
McDermott Announces Shipment of First MODEC FPSO Modules
PRNewswire/ -- McDermott International, Ltd today announced the first shipment of topside modules for a floating production storage and offloading (FPSO) unit for MODEC, Inc. (MODEC). The FPSO will be located in the Area 1 block, approximately six miles (10 kilometers) off the coast of Mexico in the shallow waters of the Campeche Bay at a water depth of... Continue Reading →
Mexico unveils $14 billion investment plan to speed up ailing economy
MEXICO CITY (Reuters) - Mexico’s government presented an almost $14 billion infrastructure investment plan on Monday as President Andres Manuel Lopez Obrador seeks to repair rocky relations with business leaders and lift the struggling economy. The package, mostly privately financed, is the first clear sign of corporate bosses’ readiness to invest under Lopez Obrador since... Continue Reading →
Repsol Picks Stena Drilling Rig for Mexican Ops
Sept 22, 2020 Spanish oil firm Repsol has awarded a drilling contract to offshore drilling contractor Stena Drilling for a drilling campaign in Mexico. Stena Drilling said Monday that it had signed a contract with Repsol after a competitive tender exercise, for the use of the Stena IceaMax drillship. Repsol will use the rig to... Continue Reading →
Pemex projects production declines, AMLO’s new refinery to slash oil export volumes
Sept 18, 2020 (Bloomberg) --Petroleos Mexicanos expects a drastic drop in oil exports over the next three years as the company faces the twin challenges of declining output and supplying crude to a controversial new $8 billion refinery championed by the country’s President Andres Manuel Lopez Obrador. Pemex, as the state oil company is also... Continue Reading →
Sapura Energy nets over $203 million in new contracts
Sept 17, 2020 Oil and gas services provider Sapura Energy has announced two major project wins in South America, as well as a drilling contract win in the Ivory Coast. Sapura Energy said on Thursday that the total value of the three contracts is RM 840 million ($203.4 million), bringing the company’s total wins to-date... Continue Reading →
Mexico Is Cutting Pemex’s Oil Output Forecast in Latest Setback
Sept 8, 2020 Mexico is cutting its 2021 forecast for oil production at Petroleos Mexicanos by 8.4% as the state producer struggles under a $107 billion debt load and the impact of the deadly coronavirus. The country’s Finance Ministry lowered its preliminary estimate for output next year to 1.857 million barrels a day, down from... Continue Reading →
Brazil economy outshines Mexico after surprise role reversal
The divergence between Latin America’s two largest economies, Brazil and Mexico, is widening as the region’s most prominent left- and right-wing leaders adopt stridently different fiscal responses to the COVID-19 pandemic. Their approaches, however, are not what would be expected - and investors are adapting accordingly. Continue reading
Brazil Energy Insight 