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Mexican state-owned oil and gas company Pemex will receive a contribution equivalent to $5 billion from the country’s government to repay and refinance debt. Pemex announced on Wednesday a series of measures intended to improve its financial condition. This operation considers a capital contribution from the Federal Government equivalent to $5 billion to be used... Continue Reading →
Mexican oil company Pemex has chartered two CIMC Raffles-built jack-up drilling rigs on long term contracts. CIMC last Thursday held a naming and sail-away ceremony for the two 400ft jack-up rigs the Gulf Driller VI and Gulf Driller VIII. “The two rigs will soon sail to the Gulf of Mexico to provide oil and gas... Continue Reading →
Mexico said on Tuesday it had struck a deal with a group of companies to renegotiate the terms of natural gas pipeline contracts signed under the previous administration that will eventually save the government $4.5 billion. The deal announced by President Andres Manuel Lopez Obrador and the head of the Federal Electricity Commission (CFE), a... Continue Reading →
Subsea contractor Frontera Offshore has entered into an exclusive collaboration with DOF Subsea for the Mexican market. The alliance is intended to leverage the local presence and track record of Frontera with the specialized vessels, engineering capabilities and subsea survey and installation experience of DOF Subsea. The Mexican offshore market is expected to see unprecedented... Continue Reading →
August 8, 2019 Pemex has received approval from Mexico's National Hydrocarbon Commission (CNH) for a $ 10 billion investment to develop land and sea exploration opportunities. Pemex will develop 22 new maritime fields in 2019, 18 of them in shallow waters of the Gulf of Mexico. On land, the commission's approval extends to the Ixachi... Continue Reading →
U.S.-based oil and gas company Talos Energy bounced back to the black in the second quarter of 2019 on the back of higher revenues boosted by record production levels. Talos on Wednesday posted a net income of $94.8 million for the second quarter of 2019 compared to a loss of $75 million in the same... Continue Reading →
Offshore drilling contractor Borr Drilling has been awarded another drilling contract by Pemex. As a result, Borr will have three of its jack-up rigs operating offshore Mexico for Pemex and four in total in the country. Back in March 2019, Borr revealed it had secured offshore drilling contracts for two of its jack-up rigs –... Continue Reading →
Mexico’s state oil company Pemex posted another quarter of major losses on Friday, weighed down by falling output and lower crude prices, as the heavily indebted firm faces the prospect of a fresh downgrade from credit agencies critical of its direction. President Andres Manuel Lopez Obrador has pledged to rescue the ailing Mexican oil giant... Continue Reading →
Norwegian offshore vessel owner Solstad Offshore and Mexican company Subtec S.A have agreed to extend the contract for the CSV Far Sentinel with 2,5 years. Subtec is a Mexican company, with its base of operations in Ciudad del Carmen, Campeche, that is a part of Blue Marine’s business units. The vessel operates in Mexico. The... Continue Reading →
Mexico’s Petroleos Mexicanos aims to balance its budget by 2021 and reverse a decade and half of declining crude production as early as next year. Under the presidency of Andres Manuel Lopez Obrador, Pemex will invest 1.95 trillion pesos ($102 billion) by 2024, it said in an emailed document ahead of the release of its... Continue Reading →
Brazil Energy Insight 