Brought to you by Quest Offshore & Southern Cone Consultants
(Reuters) - Mexican state energy company Pemex hopes to access financing at more favorable rates with a sustainability plan laying out its commitments to bring down emissions, the company's chief financial officer said Monday. Bond investors, which hold the vast majority of Pemex's financial debt, totaling more than $100 billion, have long considered the company... Continue Reading →
(Reuters) Pemex reportedly put off urgent repairs and maintenance at an important offshore platform for months, resulting in methane spewing into the atmosphere, according to internal documents and three sources familiar with the infrastructure. New data from the United Nations Environment Program's (UNEP) International Methane Emissions Observatory showed that the problematic Pemex platform in the... Continue Reading →
Australia's top oil and gas company Woodside Energy has awarded a contract to Subsea 7 for subsea installation services for the Trion development offshore Mexico. Subsea 7 described the contract as large, which means its value ranges between $300 million and $500 million. The scope of contract for Subsea 7 includes engineering, construction, and installation... Continue Reading →
(OM) The Zama offshore oilfield development project operated by state company Pemex has been “delayed for the right reasons,” according to Talos Energy Chief Executive Tim Duncan. Duncan said that the delay will allow needed changes to the engineering design that will enable the project to move forward. Duncan was quoted by Reuters in a... Continue Reading →
(Reuters) - Mexican state energy company Pemex and billionaire investor Carlos Slim's team are discussing ways to revive development of the country's first deepwater natural gas field that was shelved twice before, two sources told Reuters.The sources, both with direct knowledge of the matter, said executives of companies controlled by the Slim family met with... Continue Reading →
(Reuters) Mexico's Pemex reversed losses in the last three months of 2023 but its overall debt burden remained the highest of any oil company in the world, with billions of dollars due to bond holders and service providers. The state-run company posted a profit of 106.9 billion pesos in the fourth quarter of last year,... Continue Reading →
(Reuters) Australia's top oil and gas explorer Woodside Energy posted a 37% drop in annual underlying profit on Tuesday, as lower realised prices for its products offset higher sales and production. Oil and natural gas prices softened in 2023, as slowing global growth and a weaker-than-expected economic recovery in China weighed on demand. "Compared with 2022, 2023 full-year... Continue Reading →
U.S. offshore energy industry equipment maker Dril-Quip has been selected to supply the subsea wellhead systems for the Woodside Energy's Trion development offshore Mexico. The Trion project, a greenfield deepwater development, includes 24 wells across two phases. Woodside's decision to use Dril-Quip's BigBore IIe Subsea Wellheads will leverage the system's field-proven sealing technology and 2... Continue Reading →
(OM) Global energy demand continues to ramp up as the world economy emerges from the constraints of the COVID-19 pandemic. According to the US EIA, liquids consumption has grown by 10% over the past three years, averaging 101 MMb/d in 2023. The rebound in oil demand to above pre-pandemic levels continues to spur investments in... Continue Reading →
TDI-Brooks, a U.S.-based marine services company specializing in geotechnical and offshore survey projects, reports it has completed a geotechnical coring campaign in the Gulf of Campeche offshore Mexico. As a subcontractor of Drebbel de Mexico out of Cd. del Carmen, TDI-Brooks deployed its geotechnical coring tools and operators on the Laguana Azul. A total of... Continue Reading →
Brazil Energy Insight 