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(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 →
(OE) Woodside’s Trion oil and gas project has received approval for its Social Impact Assessment from the Mexican Ministry for Energy. Trion is a greenfield development that would represent the first oil production from Mexico’s deepwater. It is located in the Gulf of Mexico at a water depth of 2,500m, approximately 180km off the Mexican coastline. The Social... Continue Reading →
(Reuters) - Mexican tycoon Carlos Slim is interested in increasing his investments in the oil sector, including in U.S.-based Talos Energy's (TALO.N), opens new tab projects, after the billionaire businessman bought a stake last year in a major offshore project discovered by Talos. Speaking at a press conference, Mexico's richest person signaled he would like to grow... Continue Reading →
(OE) Paratus Energy Services, through its subsidiary SeaMex Holding, has secured a one-year contract for the Titania jack-up rig in Mexico. The new contract will contribute approximately $55 million in backlog and is expected to start around mid-February 2024, Paratus informed. As previously disclosed, the Titania jack-up remained operating under its existing contract with Pemex... Continue Reading →
Brazil Energy Insight 