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Mexico


Pemex to invest $1.4 bn in cogeneration projects

In order to supply electricity to its refineries in Tula, Hidalgo and Cadereyta, Pemex plans to invest $1.4 billion in two cogeneration projects. Deals were signed between Pemex and both Mexica-Canadian consortium, Hermes Atco and Japan’s Mitsui in order to build power generation projects at the refineries. by EFE, Fox News Latino, October 28, 2014…

Mexico to launch shallow water tenders in November

According to the energy minister, the first tenders for private firms to partner with Pemex in shallow water oil and gas extraction will take place in the first half of November. During the first half of Devember, bases for tenders for extra heavy crude projects will be launched, followed by onshore and deepwater projects tendered…

Pemex and Chevron sign cooperation agreement

Pemex and Chevron Corporation have signed an agreement to seek petroleum industry opportunities that will be beneficial for both companies. The plan is to look at deepwater and natural gas exploration, heavy crude oil production, revitalization of mature fields. refining and fuel distribution. by EFE, Fox News Latino, October 27, 2014 State-owned oil giant Petroleos…

Risen Energy to build a plant in Mexico

Risen Energy to build a plant in Mexico

Risen Energy is planning to invest $600 million on the building of a 300 megawatt solar photovoltaic power plant in Mexico. The solar energy company’s investment marks the largest investment deal ever between China and Mexico, and is expected to kickstart further Latin American expansion. by Shi Xiaofeng, China Daily USA, October 24, 2014 A solar…

Mexico’s Pemex 3Q Loss Widens On Lower Crude Output, Prices

Pemex reported a $4.44 billion quarterly loss during the July to September period. The revenues of the 3rd quarter are down 0.7 percent from the same period last year. Mexico’s government relies on oil revenues to fund about one third of the federal budget. by David Alire Garcia, Reuters, October 24, 2014 MEXICO CITY, Oct 24…

Mexico Plans To Offer Geologically Diverse Assets In Round One

The Round One tender offered by Mexico following the deregulation of its oil and gas industry has made available 169 blocks covering about 28,500 sq km. The geologically diverse round includes both shallow water and extra-heavy oil deepwater assets. by Velda Addison, Exploration & Production, October 22, 2014 Shallow-water acreage will be first up on the…

Mexico upstream bidding to start with shallow-water assets

Mexico will be publishing its bidding requirements in November, outlining technical logistics for the first found of upstream bidding. The country will be opening the bidding sequence with shallow-water assets, and from there move into extra-heavy oil, unconventional assets, and deep water. by Paula Dittrick, Oil & Gas Journal, October 20, 2014 Mexico plans to publish…

Fuel pipeline will go from Mexico to U.S.

Fuel pipeline will go from Mexico to U.S.

San Antonio-based NuStar announced Wednesday its plans to develop a pipeline in partnership with PMI, an arm of Mexico’s Pemex. The two companies will share costs of construction on the pipeline and storage assets, and NuStar will manage construction and operation of the line. The pipeline is planned to transport liquefied petroleum gas and refined…

Pemex signs MOU with ExxonMobil for upstream, downstream cooperation

A memorandum of understanding and cooperation between Pemex and ExxonMobil was signed Thursday. This MOU follows similar agreements between Pemex and BHP Billiton and Malaysia Petronas, following the opening of Mexico’s oil and gas sector to foreign investment. The wording of the agreement with ExxonMobil allows for a potential alliance as the first rounds of…

Pemex Optimistic for Ultra-Deep Water Find in Gulf of Mexico

According to Pemex Exploration and Production Director Gustavo Hernandez, the company is expecting to make a crude oil discovery at the Vasto-1 ultra-deep water exploratory by the end of the year. This expectation is coming after the newly found evidence of hydrocarbon content in the well. by Adam Williams, Bloomberg, October 10,2014 Petroleos Mexicanos, Mexico’s…

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Site Last Modified: October 30, 2014