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Pemex News


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…

Mexico’s oil auction beats expectations despite oil price plunge

This December 15th, Mexico awarded contracts from its onshore fields. With all the 25 contracts awarded, officials considered this auction a big triumph, as they had previously forecast awarding only five contracts. Among the winners were 14 consortiums of small Mexican companies. Total production from 19 of the 25 fields currently hovers under 20,000 bpd. by David…

Mexico’s Pemex says it has added more than 1 bn boe of 3P reserves in 2015

Earlier this week, Pemex’s CEO said that discoveries made in the second half of the year total an equivalent to more than 1 billion barrels of oil. The two shallow water finds, Teocalli and Japsol, are expected to have reserves of 40,000 barrels of crude and 25 million cubic feet of natural gas. These are an…

Mexico’s Pemex says two oil discoveries to add 40,000 bpd

by Ana Isabel Martinez, Reuters, Dec. 08, 2015 Mexico’s state-owned oil company, Pemex, has discovered two shallow-water oil deposits that will eventually produce 40,000 barrels a day, the company’s top executive said on Tuesday. Pemex Chief Executive Emilio Lozoya said the discoveries were made during the second half of this year, adding 180 million barrels…

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