Mexico's oil regulator will extend the time companies have to secure needed permits and plan approvals through the end of this month because of the coronavirus pandemic, it said in a statement on Wednesday. Deadlines will be suspended until at least May 31, according to the regulator known as the National Hydrocarbons Commission. Since last month, the... Continue Reading →
No Oil at Eni’s Ehecatl Prospect Offshore Mexico
Eni has not found oil at its Ehecatl-1 exploration well in Block 7, offshore Mexico, Cairn, a partner in the project has said. Cairn said on Tuesday operations had been completed at the Eni-operated Ehecatl-1 exploration well in the Sureste Basin. Cairn has a 30% working interest in the offshore block through its subsidiary Capricorn... Continue Reading →
PTTEP: Two New Oil Finds Offshore Mexico
Thai energy company PTT Exploration and Production Pcl said on Monday its joint venture had made two deep-water oil discoveries in the Salina Basin, offshore Mexico. The Mexican subsidiary of PTTEP, Thailand's largest oil and gas producer, and three partners including the Mexican subsidiary of Spain's Repsol SA, will be assessing commercial potential of the... Continue Reading →
Pemex Removing Workers from Offshore Platforms to Limit Spread of Virus
Mexico has begun removing staff from Gulf of Mexico oil platforms to limit the spread of the coronavirus, leaving essential personnel on board, state oil firm Petroleos Mexicanos (Pemex) said on Sunday. Pemex said in a statement that workers had started coming off the rigs as Mexico implements stricter measures to combat the coronavirus since... Continue Reading →
Mexico to Shut Down Wells a Week After Refusing Deep OPEC+ Cuts
With crude prices collapsing, Mexico’s president says his country will shut down new wells in a move that comes just over a week after he almost wrecked a global oil deal by refusing to make deep output cuts. The country invested last year in drilling new wells, Andres Manuel Lopez Obrador said during his daily... Continue Reading →
High impact exploration in 2020 down but not out, Westwood says
Exploration plans are being redrawn and the well count is expected to drop by as much as 35 per cent on 2019 levels due to the “double whammy” of the oil price collapse and COVID-19 pandemic, according to market research provider Westwood Global Energy Group. At the start of the year, the number of high-impact... Continue Reading →
Piracy Incidents Offshore Mexico ‘Largely Unreported’
Piracy activity on the Mexican side of the Gulf of Mexico seems to be picking up, with several attacks in the past month on offshore support vessels. A little over a week ago, a Maersk Supply Service's offshore vessel was a target of an armed robbery offshore Ciudad Del Carmen, Mexico. Armed robbers boarded Maersk... Continue Reading →
Why Mexico is the winner in OPEC+ deal, Rystad explains
Following a historic OPEC+ deal to reduce global oil output in an effort to save the oil industry, Mexico came out as an unlikely winner since it was able to negotiate a production cut of only 100,000 barrels per day. Rystad Energy estimates that this will in effect be at a 50,000 bpd reduction at most. The... Continue Reading →
Offshore Accommodation Unit Attacked in Mexico. Crew Member Injured
Offshore vessel provider Telford Offshore's offshore accommodation and hook-up unit Telford 28 was attacked earlier this week while anchored in Mexico. One crew member was injured. In an email sent to Offshore Engineer, Telford Offshore said: "We can confirm that the Telford 28 came under attack while anchored at Cuidad Del Carmen, Mexico on the... Continue Reading →
PEMEX expects its oil hedges to generate $311 million this year
-Mexico’s Petroleos Mexicanos expects to receive some relief from its oil hedge this year as producers grapple with a record slump in demand. “The Finance Ministry has full coverage, and in the case of Pemex it is a part of our production,” said Pemex Chief Executive Officer Octavio Romero at a press conference in Mexico... Continue Reading →
Brazil Energy Insight 