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Pemex News


New Geological Studies Seen Giving Clearer Picture of Mexico’s Oil Potential

More than two dozen of exploration studies are expected to happen in the next few years. Thanks to Mexico’s new energy reform, which allows private firms to study the land and sell it to foreign companies, opportunities of geological research will be able to reveal and challenge oil and gas deposits below the ocean. With…

Pemex prepares to expand oil production after decade of decline

After a decade of decline in production PEMEX is finally ready for its recovery. The oil company told the Financial Times they’ve negotiated with private investors to transfer contracts and together boost oil production. The deals came after Mexico’s energy reform stated that, as of July 2015, contracts will be offered in a bidding round,…

UT Jackson School of Geosciences Aims to Enhance Research in Mexico

by Valerie Jones, Rigzone, February 23, 2015 With a focus on building future professionals in the energy sector and continuing academic research in earth sciences and engineering, The University of Texas at Austin (UT) Jackson School of Geosciences and the National Autonomous University of Mexico (UNAM) have strengthened collaborations with each other in the fields…

Pemex to deliver at least three Suezmaxes to Asia from Salina Cruz

Pemex is set to deliver 1 million-barrel cargo of Isthmus crude to Japanese refinery Cosmo who operates at 147,500 b/d.  As a way to focus exports of crude from its Pacific Coast ports Pemex will also be exporting 1 million barrels of Isthmus to Korea’s GS Caltex. by Richard Capuchino, Platts, January 20, 2015 Mexico’s…

Oil Crash No Obstacle for Pemex as Mexico Plows Ahead With Bids

Even as prices of oil are collapsing, Pemex CEO Emilio Lozoya has committed to run tenders on fields where it is seeking partners.  For the first time in 7 decades, Mexico will be pressing ahead with plans to start offering oil licenses, specifically Pemex will be bidding as a minority partner in five blocks to…

PEMEX proposal to import light crude could benefit Eagle Ford producers

The U.S. Department of Commerce has received a proposal from Pemex to import light crude from the United States. In effort to create blends that would reduce sulfur emissions in their refining process, Pemex is asking to import about 100,000 bpd of light crude and condensate from the U.S.  The request comes at time when…

Mexico’s Pemex to boost fuel output by nearly 70 pct at Tula refinery

Pemex announced on Wednesday its plans to boost gasoline diesel output by almost 70 percent at the Miguel Hidalgo refinery. This boost will result from a $4.25 billion upgrade that is expected to be completed by the beginning of 2018. by David Alire Garcia, Reuters, December 3, 2014 Dec 3 (Reuters) – Mexico’s state-owned oil company…

Pemex to process less oil in 2015 due to refinery maintenance

Pemex refineries will process 4 percent less crude oil in 2015 due to refinery maintenance. This decrease in process may require Pemex to import more gasoline and diesel in order to fulfill the demand that is rising as the economy grows. The maintenance will be on five dozen major units at six different refineries. by David…

Mexico’s Pemex approves post-reform corporate revamp

Pemex has finalized a corporate restructuring, including the creation of new business units that will focus on fertilizers and ethylene. The company will maintain its money-making exploration and production division and consolidate poorer performers focused on natural gas, refining and petrochemicals into a single entity called Industrial Transformation. by David Alire Garcia, Reuters, November 18, 2014…

Mexico’s Pemex Considers Sukuk Sale to Lure Muslim Investors

Pemex is considering the sale of the Islamic-compliant bonds known as sukuk. A date and amount has yet to be set, but it will be the first sukuk out of Latin America. by Isabella Cota, Bloomberg News, November 14, 2014 Petroleos Mexicanos is considering a sale of the Islamic-compliant bonds known as sukuk, courting Muslim investors…

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Site Last Modified: March 27, 2015