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Mexico News


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…

Ex-Im Bank Supports U.S. Jobs Through $1 Billion Guarantee of Pemex Bonds To Be Issued in the Capital Markets

Two authorizations were approved by the Export-Import Bank of the United States in order to support the export of U.S. goods and services to Pemex. The authorizations total in $1 billion worth of financing, and are expected to support approximately 6,700 U.S. jobs. by PR Newswire, October 1, 2014 WASHINGTON, Oct. 1, 2014 /PRNewswire-USNewswire/ —…

Mexico’s Pemex signs cooperation agreement with Exxon Mobil

Following Mexico’s energy reform, Pemex has signed a non-commercial agreement with ExxonMobil Corp in order to jointly explore potential upstream and downstream business opportunities. The upstream projects relate to exploration and production of crude oil and natural gas. The downstream projects relate to refining, storage, and transportation projects. by Alexandra Alper and David Alire Garcia, Reuters,…

Pemex lets contract for Lakach gas field development

A $750 million deal has been contracted between Mexico’s Pemex and Italy’s Saipem SPA. The engineering, procurement, construction, and installation (EPCI) contract will be used for development of Lakach gas field located in the deep water of the Gulf of Mexico. by OGJ editors, Oil and Gas Journal, October 2, 2014 Mexico’s Petroleos Mexicanos (Pemex)…

NPD Solarbuzz: Latin America, Caribbean Region to install 9 GW of solar PV within five years

Solar photovoltaic technology is increasing rapidly across the Latin America and Caribbean region. Currently the region exceeds 22 gigawatts of solar PV pipeline across all phases of development. Within the next five years, 9 more gigawatts of projects will be installed. The region is a good candidate for PV pipelines because the region currently has…

Mexico energy overhaul will bring benefits, challenges

Texas legislators met to hear testimony regarding the benefits and challenges presented by the Mexico energy reform in regards to the Texas economy. Jorge Piñon gave testimony and informed the lawmakers that while the reform can be beneficial for Texas, the path will not be easy. He warned of the fragile political climate that will…

BHP Billiton, Pemex sign agreement to share deepwater knowledge

Australian company BHP Billiton has signed a deal with Mexico’s Pemex regarding knowledge of deep water operations. The Gulf of Mexico is a main area for BHP Billiton’s petroleum business, and this deal will allow them to further focus as a partner with Mexico to help develop the country’s petroleum resources.  This deal was made…

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