Oil And Gas

Additional credit rating downgrades of Mexican national oil company Petróleos Mexicanos (Pemex) and of the sovereign are among the biggest internal risks facing the country’s economy as it struggles to emerge from a still-raging coronavirus pandemic and economic downturn, according to local authorities. In its latest summary of risks facing the economy issued Tuesday, Mexico’s…

A federal judge in Montana ruled that William Perry Pendley, the acting director of the U.S. Interior Department’s Bureau of Land Management (BLM), had served illegally for more than a year and blocked him from continuing in the position. “Pendley has served and continues to serve unlawfully…His ascent to acting BLM director did not follow…

Colorado’s Air Quality Control Commission (AQCC) on Wednesday unanimously adopted ambitious rules aimed at curbing local air pollution and climate-warming greenhouse gas emissions from state oil and natural gas operations. The rules will require high frequency monitoring for gas leaks during the pre-production phase of wells, representing “the first state regulatory system of its kind…

Mexico President Andrés Manuel López Obrador said during his Thursday morning press conference his government would continue to respect oil and gas laws and existing contracts in the country. He added, however, that if he were somehow unable to “rescue” national oil company Petróleos Mexicanos (Pemex) and state electricity firm Comisión Federal de Electricidad (CFE),…

The Permian Basin is the only one of the seven major producing areas of the Lower 48 forecast to see an increase in natural gas and oil output in October month/month, according to a forecast by the Energy Information Administration. In the monthly Drilling Productivity Report (DPR) issued on Monday, EIA researchers estimated that overall,…

As Lower 48 operators have slashed spending and activity, the Permian Basin has taken the biggest hit to well permitting, according to an analysis of August data by Evercore ISI. Overall permit activity fell nationwide by 28% in August month/month to 1,119 permits, according to the analyst team led by James West. Most of the…

The U.S. oilfield services (OFS) industry through August had lost more than 100,000 jobs since the coronavirus pandemic began eating away at oil and gas demand, according to the Petroleum Equipment & Services Association (PESA).  And the future remains a bit wobbly, according to PESA, which represents OFS operators involved in oilfield equipment manufacturing, drilling,…

Click here to listen to the latest episode of NGI’s Hub & Flow podcast in which NGI’s Mexico GPI senior editor Christopher Lenton talks to FTI energy consultant and El Economista columnist Pablo Zarate about the Mexico natural gas market. Lenton and Zarate discuss the status of liquefied natural gas projects, the state of energy…

Strength in numbers emerged Monday as a survival strategy for depressed fossil fuel prices and the Covid-19 pandemic among independent Canadian oil and gas firms as announcements of a merger and a proposal for a second pairing were made. Whitecap Resources Inc. and NAL Resources Ltd. made a corporate marriage deal valued at C$155 million…