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Pemex News


From Champs to Chumps: Latin America Oil Giants Owe $275B

With the current energy economic climate affecting the Latin American Oil Giants, it is a universal concern that with their indebtedness and risky situations they are a threat to the regional economy.  The majority of these companies have garnered their current economic woes during the previous decade when oil price were high.  Now, state leaders…

CERAWeek: Latin America looks at more opportunities

Three major oil and gas companies of Latin America, Pemex, Ecopetrol, and Petrobras, met during this year’s CERA Week in Houston, TX. Their discussions included the current challenges facing oil and gas companies as lower oil prices dominate and how they continue to move forward with opportunities. Pemex is currently looking forward to partnering with…

Pemex CEO Emilio Lozoya Resigns After Three Years of Losses

The Pemex storm gets even more complicated, CEO Emilio Lozoya will be stepping down. President Enrique Pena Nieto has appointed Jose Antonio Gonzalez Anaya, a trained economist, as Lozoya’s replacement. by Adam Williams, Bloomberg, Feb. 08, 2016 Emilio Lozoya resigned as Petroleos Mexicanos’ chief executive officer after the oil giant failed to reverse falling output and…

Mexico’s Pemex signs MOUs with Arab oil companies

Pemex has just signed two MOUs with United Arab Emirates companies Mubdala Petroleum and ADNOC. A separate MOU was signed with Saudi Arabian company Saudi Aramco with the objective of opening dialogue and exploring different areas of cooperation. by Fox News Latino, Jan. 20, 2015 Mexican state-owned energy company Petroleos Mexicanos signed two memorandums of understanding…

Mexico and Cuba analyze natural gas export opportunities

Mexico and Cuba are analyzing the possibility of exporting compressed natural gas from Mexican territories to the island. The conversation started last November when President Raul Castro visited Mexico and Pemex offered its services to help Cuba during its reindustrialization process. by Forbes Mexico, Jan. 15, 2016 México está estudiando con Cuba un proyecto para…

Mexico regulator approves Pemex plan to drill new deepwater wells

Pemex plans of drilling new wells by late 2016 have been approved by Mexico’s oil regulator. The two deep water wells, Vasto-1001 and Nobilis-1, are near the border with United States in the Gulf of Mexico and are believed to hold 203 and 161 million barrels of oil equivalent. by David Alire Garcia, Reuters, Jan….

Amid Weak Oil Prices, Pemex Touts Its Rock-Bottom Production Costs

Mexican oil company, Pemex, talked about their low production costs of $10 a barrel. Pemex attributes the low costs not to the decline in oil price but to the devaluation of the Mexican peso which allows the company to still make some profit since oil is sold in dollars. by Laurence Iliff, Wall Street Journal,…

Reinassance, three oil blocks winner to partner with Pemex

Reinassance Oil Corp., is a British Columbia onshore producer that won rights in the December 15th oil auction to develop three onshore fields in Chiapas. The Canadian company is looking for partnering opportunities with Pemex for exploration of unconventionals and help them overturn a 11-year decline in the country’s oil production. by Petroleum World, Jan. 07,…

Samsung Engineering wins $550m refinery contract from Pemex in Mexico

Samsung Engineering in South Korea just signed a $550 million contract with a Pemex refinery in Salamanca, Mexico. Through Samsung, Pemex’s refinery will expland its capacity by 53,000 barrels a day and provide engineering, procurement, construction and commissioning services by the end of 2018. by Energy Business Review, Dec. 22, 2015 South Korea-based Samsung Group’s…

Mexico Plans Deep-Water Oil Auction Next Year

Mexico Plans Deep-Water Oil Auction Next Year

Mexico is planning for a fourth auction, this time of deep-water exploration blocks. The auction will be announced and open for proposals on the third quarter of 2016 and held by the end of the same year. This time, ten blocks will be offered, including some in the Gulf of Mexico area close to the…

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Site Last Modified: September 22, 2016