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Mexico’s Pemex estimates crude production will increase to 2.4 million bpd in 2015

Pemex expects its crude production to increase to 2.4 million bpd in 2015; a rise from the 2.35 million bpd it plans to produce this year. This rise is due to the company’s plans to reactivate mature oil fields as well as begin production in newly discovered reserves. Pemex has been given the rights to…

Mexico’s Pemex aims to start importing light crude this year

Pemex is planning on beginning to import light crude oil later this year. The imports are aiming to boost refinery output. Although Mexico is considering both crude swaps and direct import agreements with the United States, it is not ruling out imports of light crude from other countries. by David Alire Garcia and Ana Isabel Martinez,…

Pemex’s era of profound change begins, CEO says

Pemex is taking advantage of Mexico’s energy reform as they begin a restructuring process that will make it more competitive in the oil industry. Some of the restructuring includes three new subsidiaries and a new board of directors, which will be completed in October. The firm also plans to combine divisions of natural gas, refining,…

Pemex Pursuing Tax Reimbursement After Overstating Output

Pemex is seeking reimbursement of taxes paid on barrels the company never produced. The over-payment in taxes came from over-reporting crude output for the first seven months of this year. Pemex is currently calculating the amount in which it overpaid, and is preparing for the lengthy negotiation process it is soon to face with the…

LatAm woos foreign oil firms but state looms large

Some of Latin America’s major oil producers, including Mexico, Brazil and Argentina, are asking for help to tap hard-to-reach crude. A lack of technology is preventing these firms from reaching deep water reserves causing Latin America’s oil producers to seek help. Mexico is the first to open its sectors to foreign investment, ending a 76-year…

Two energy deals in the pipeline between UAE and Mexico

Mexico and the UAE are expected to sign two major energy deals following the newly passed laws that allow for direct foreign investment in Mexico’s oil sector. The sector hopes to attract up to US$50 billion within the next five years in order to develop new resources. by Anthony McAuley, The National, August 28, 2014…

Mexican President signs 9 laws governing energy reform

August 13, 2014 On August 11, 2014 Mexican president Enrique Peña Nieto signed nine (9) laws governing the earlier adopted constitutional energy reform. Please click on the laws for .pdf versions (in Spanish) of the nine new laws governing Mexico’s Energy sector. Ley de Hidrocarburos (Hydrocarbons) Ley de la Industria Eléctrica (Electric Power Industry) Ley…

Mexico’s Round Zero and Round One oil projects

by David Alire Garcia, Reuters, August 13, 2014 Aug 13 (Reuters) – Mexico’s energy ministry announced on Wednesday that the country expects to attract $50.5 billion in new private and foreign investment by 2018 as part of a historic oil sector opening next year that will begin with a first round of contracts. The Round…

Mexico hopes to lure $50.5 billion in historic oil tender

By David Alire Garcia and Tomás Sarmiento. Reuters, August 13, 2014 Aug 13 (Reuters) – Mexico expects to attract $50.5 billion in new private and foreign investment by 2018 as part of a historic opening of its oil sector that begins next year with a first round of contracts, the country’s top oil officials said…

Texas-Mexico universities seek partnerships

by Vicki Vaughan, The San Antonio Express-News, August 11, 2014 SAN ANTONIO — As Mexico ends its 75-year-old state monopoly and opens oil and gas production to foreign investment, the nation’s need for expertise — especially for petroleum engineers — will be great. That’s prompted at least two Texas universities to establish relationships with universities…

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Site Last Modified: September 10, 2014