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Mexico’s Pemex to spend $6 bln to maintain output at Cantarell

by Adriana Barrera and David Alire Garcia, Reuters, July 1, 2014 (Reuters) – Mexico’s state-run oil company Pemex will launch a $6 billion investment in 2017 aimed at maintaining current levels of production at its once-supergiant Cantarell field over the next decade, a Pemex official said on Tuesday. Discovered in 1976, output from the offshore…

The China-Mexico Strategic Relationship and Its Impact on the U.S.

by Evan Ellis, via The Manzella Report, June 2, 2014 As the People’s Republic of China (PRC) has expanded its commercial and other relationships with Latin America and the Caribbean over the last decade, Mexico has remained closely tied to the United States, both in economic and security affairs. The degree to which Mexico has…

Mexico Begins Debate On Massive Oil Overhaul

Agence France Press, via BusinessInsider.com, June 11, 2014 Mexico’s senate began discussions Tuesday on enabling legislation to implement historic constitutional reform opening the country’s oil industry to foreign investment for the first time since 1938. President Enrique Pena Nieto had already signed the controversial measure after it was approved by Congress and ratified by a…

Mexico’s Pemex selling Repsol stake worth $3 bln

By Tracy Rucinski, Reuters, June 3, 2014 MADRID, June 3 (Reuters) – Mexico’s national oil company Pemex will sell a 7.86 percent stake in Spanish oil firm Repsol, worth about 2.2 billion euros ($3.0 billion), Citigroup and Deutsche Bank said on Tuesday. The sale, to be made via an accelerated book build, should be completed…

Mexico courting Canadian investment in newly reformed energy sector

The Canadian Press, June 2, 2014 CALGARY – Mexico is laying out the welcome mat for Canadian companies to participate in its energy sector, which is opening up to outside investment after more than 75 years of government control. A delegation of Mexican government and business officials came to Calgary on Monday to court Canadian…

Energy Watch: Mexico wants Canada’s help on energy reform

Jameson Berkow, Western Bureau Chief, BNN, May 30, 2014 Mexico wants a little help from Canada as the world’s eighth-largest crude oil producer moves toward ending a nearly eight-decade-long state monopoly and open its energy sector to private companies. Early Monday morning [June 2], high ranking officials from the Mexican government will gather at the…

Pemex in Talks for $4 Billion Investment Fund With China

By Adam Williams, Bloomberg News, May 28, 2014 Petroleos Mexicanos, the state-owned oil producer, is negotiating with Chinese companies to create a fund valued at as much as $4 billion to invest and finance projects. The proposed arrangement is in a “final stage of negotiations,” Pemex, as the Mexico City-based oil producer is known, said…

The shale U.S. energy revolution and Mexico reform dominated the XXII La Jolla Conference

Institute of the Americas, via Petroleumworld.com, May 26, 2014 The shale development and gas production has drive en energy revolution in the U.S. and made a definitly important economic impact on communities from North Dakota to Ohio to Pennsylvania, while Mexico energy sector is open for investors according to the speakers at the XXII La…

Some advice for energy firms before heading south of the border

By Chris Tomlinson, Houston Chronicle, May 22, 2014 Go south young man, there’s oil in that there shale! That’s the message from Mexican officials and dozens of consultants to Texas oil and gas companies as the Mexican Congress moves to allow private, foreign investment in every corner of the nation’s energy industry. Mexico’s natural resources…

Mexico Crude Needs New Markets as U.S. Exports Surge, Citi Says

By Adam Williams, Bloomberg News, May 22, 2014 Mexico’s reliance on oil exports to its northern neighbor is being jeopardized by the U.S. shale boom, forcing suppliers to seek new buyers, Citigroup Inc. said. Mexico, which exports about 880,000 barrels a day of crude to the U.S., is being “pushed out” by its chief trading…

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