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Pemex News


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…

Why Mexico’s Oil is Being Moved to Private Entities

Mexican President Enrique Peña Nieto, signed the Mexico Energy Reform into legislation on August, 11th, and the results should prove to be profitable to Mexico. The opening of reserves to funding and investment from private sectors is expected to increase the country’s oil and natural gas production by about 75 percent. Jorge Piñon feels that the…

Pemex advances diesel program at Mexican refineries

Pemex has sent a contract to Spain’s Técnicas Reunidas in order to begin an unltralow-sulfur diesel project at its Lazaro Cardenas refinery. Engineering, procurement, construction, and commissioning of three new refining units are all included in the contract. The contract will be carried out in two phases, the first will cost $50 million and is…

Pemex pumps USD 2.5bn into Los Ramones pipeline project

The second phase of the Los Ramones pipeline will set Pemex back about $2.5 billion. The pipeline will import natural gas from the US and help satisfy Mexico’s growing demand. Overall, Pemex plans to spend $5.5 billion on expanding Mexico’s natural gas pipeline network. by Paddy Harris, Oil & Gas Technology, September 12, 2014 Pemex revealed…

Mexico’s Pemex estimates crude production will increase to 2.4 million bpd in 2015

Pemex expects its crude production to increase to 2.4 million bpd in 2015; a rise from the 2.35 million bpd it plans to produce this year. This rise is due to the company’s plans to reactivate mature oil fields as well as begin production in newly discovered reserves. Pemex has been given the rights to…

Mexico’s Pemex aims to start importing light crude this year

Pemex is planning on beginning to import light crude oil later this year. The imports are aiming to boost refinery output. Although Mexico is considering both crude swaps and direct import agreements with the United States, it is not ruling out imports of light crude from other countries. by David Alire Garcia and Ana Isabel Martinez,…

Pemex’s era of profound change begins, CEO says

Pemex is taking advantage of Mexico’s energy reform as they begin a restructuring process that will make it more competitive in the oil industry. Some of the restructuring includes three new subsidiaries and a new board of directors, which will be completed in October. The firm also plans to combine divisions of natural gas, refining,…

Pemex Pursuing Tax Reimbursement After Overstating Output

Pemex is seeking reimbursement of taxes paid on barrels the company never produced. The over-payment in taxes came from over-reporting crude output for the first seven months of this year. Pemex is currently calculating the amount in which it overpaid, and is preparing for the lengthy negotiation process it is soon to face with the…

LatAm woos foreign oil firms but state looms large

Some of Latin America’s major oil producers, including Mexico, Brazil and Argentina, are asking for help to tap hard-to-reach crude. A lack of technology is preventing these firms from reaching deep water reserves causing Latin America’s oil producers to seek help. Mexico is the first to open its sectors to foreign investment, ending a 76-year…

Two energy deals in the pipeline between UAE and Mexico

Mexico and the UAE are expected to sign two major energy deals following the newly passed laws that allow for direct foreign investment in Mexico’s oil sector. The sector hopes to attract up to US$50 billion within the next five years in order to develop new resources. by Anthony McAuley, The National, August 28, 2014…

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Site Last Modified: September 19, 2014