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Slumping revenues pushed Mexico's Petroleos Mexicanos to a net loss of 87.4 bln pesos ($4.43 billion) in the third quarter, but the struggling state oil firm said on Monday it had cut back its hefty debt load, bucking the trend of recent years. Pemex, as the company is generally known, held financial debts of $106... Continue Reading →
Oct. 28, 2019 /PRNewswire/ -- McDermott International, Inc. (MDR) today announced substantial completion of PEMEX Exploracion y Produccion's Abkatun-A2 Platform. The production platform is located in Mexico's Bay of Campeche in the Gulf of Mexico. This milestone means the platform has now been turned over to the owner to begin commercial operations. "With substantial completion of the Abkatun-A2 Platform project... Continue Reading →
Offshore drilling contractor Valaris, formerly known as EnscoRowan, has been awarded new contracts and extensions with BP, Murphy Oil, Premier Oil, SapuraOMV, and Saudi Aramco. In its fleet status report published on Friday, Valaris said that the 2014-built drillship Valaris DS-15 (Renaissance) had been awarded a one-well contract with Murphy in the U.S. Gulf of Mexico with... Continue Reading →
Oil and gas company Cairn Energy has completed the first well in its drilling program offshore Mexico, but failed to prove hydrocarbons. Cairn expects to start drilling its second well off Mexico in November. In an update on Monday, Cairn said that the exploration target of the Alom-1 well on Block 9 was to prove... Continue Reading →
Mexican industrial group Carso, owned by the billionaire Carlos Slim, has said it has been awarded a contract to build two offshore platforms for the Mexican oil company Pemex. The company said the contract for the engineering, procurement, and construction of two offshore platforms named MALOOB-E and MALOOB-I. The platforms are destined to be deployed... Continue Reading →
Oct 22, 2019 The Dutch group OOS is the new owner of the semi-submersible ODN Delba III, which until August was part of Ocyan's fleet in Brazil. The company acquired the equipment after settling the operation with a pool of banks financing the unit, led by the Inter-American Development Bank (IDB). Made in conjunction with... Continue Reading →
A triangular business arrangement involving an equipment supplier, service provider and Petróleos Mexicanos (Pemex) has stumbled into the federal civil courts in a dispute over the disbursement of funds. A dispute over the disbursement of funds led to a complaint filed in District 7 on December 16, 2016 (File #666/2016) by Mexico City-based TRESE (its... Continue Reading →
Carlos Romero Deschamps, the head of Mexico’s oil workers’ union, has resigned after almost three decades in position, amid corruption accusations. The resignation comes in the same week in which the country’s president Lopez Obrador said Deschamps was being investigated by the Attorney Genera’s office and suggested that it was best for a person in... Continue Reading →
Australia’s BHP has drilled two additional exploration wells as part of a deepwater drilling campaign offshore Trinidad and Tobago with one discovery made, and one well classified as dry. BHP said in its operational update for the third quarter published on Thursday that the two wells were located in the Northern licenses and were a... Continue Reading →
Danish offshore vessel owner Maersk Supply Service has secured a 1.5-year contract with Blue Marine Group to support Pemex from subsea support vessel Maersk Installer. Joining Maersk Implementer, the vessels will assist the national oil company in achieving its targets of increasing production, the vessel owner said on Monday. Maersk Installer arrived in Mexico on... Continue Reading →
Brazil Energy Insight 