Pemex News
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…
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…
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…
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 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…
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…
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…
Pemex has created a line of credit with Chinese bank ICBC. The credit line will be used for exploration and production projects as well as offshore acquisitions. by David Alire Garcia, Reuters, November 13, 2014 Nov 13 (Reuters) – Mexico’s state-owned oil company Pemex has inked an initial line of credit for exploration and production projects…
Pemex’s plan to build a $6-billion natural gas liquefaction plant at Salina Cruz is being met with skepticism. Analyst argue that Pemex lacks a track record for a comparable operation, and that there isn’t enough gas in Mexico. by Ronald Buchanan, Platts, November 10, 2014 A plan by Mexican state-owned Pemex to build a $6-billion natural…
Pemex has announced it wants to develop a liquefied natural gas export terminal on the Pacific coast of Oaxaca, and is seeking private investment to help with costs. This is an effort to help expand the country’s energy sector following the energy reform. by Alison Sider, Wall Street Journal, November 5, 2014 Mexico’s state-owned energy company,…