Mexico’s Petróleos Mexicanos (Pemex) is moving in the opposite direction of fellow Latin American national oil companies (NOCs) by failing to embrace the energy transition and natural gas, according to a panel of experts. While NOCs such as Colombia’s Ecopetrol SA and Brazil’s Petróleo Brasileiro SA (Petrobras) have embraced diversification and environmental, social and governance…
NOCs
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Natural Gas, Technology and Efficiencies Taking Prominent Role as Latin American NOCs Transition
Talk of the energy transition dominated this week’s CERAWeek by IHS Markit, with Latin America’s national oil companies (NOC), which have long served as key sources of revenue for their governments, part of the discussion. The consensus is oil and gas will remain relevant for decades as energy use intensifies across rapidly developing economies. However,…
March 4, 2021
Pemex Remains Outlier as Fellow Latin American NOCs Embrace Divestment, Liberalization
As Latin America’s national oil companies (NOCs) pivot toward partnerships with the private sector and divestment of non-core assets, Mexico’s Petróleos Mexicanos (Pemex) remains an outlier even in the wake of Covid-19, a panel of experts agreed earlier this month. Even before the pandemic, the region’s oil-exporting countries were struggling to navigate a “lower-for-longer” oil…
October 21, 2020
National Oil Companies Slash Capex Budgets in Unprecedented Crisis
National oil companies (NOC) across the world plan to cut exploration budgets by more than a quarter on average in 2020, according to new research by Wood Mackenzie.
May 22, 2020
U.S. Shale Credited for Surge in Upstream Spending
Big spending by Big Oil in the U.S. shale plays is leading to a big-time recovery in global upstream capital spending, according to energy consultant Wood Mackenzie.
November 15, 2010
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