pemex

Tax Break or No, Mexico’s Pemex Likely to Require More Government Support, Fitch Says

Tax Break or No, Mexico’s Pemex Likely to Require More Government Support, Fitch Says

Mexican state oil company Petróleos Mexicanos (Pemex) would require more government support over the coming years if it wants to increase capital expenditures (capex) without taking on more debt, even if proposed tax breaks for the firm are passed by legislators, according to Fitch Ratings. Senator Armando Guadiana, a member of President Andrés Manuel López…

December 21, 2020
Private Sector Sees Potential New Opening to Invest in Mexico Energy Sector

Private Sector Sees Potential New Opening to Invest in Mexico Energy Sector

Not for the first time, private sector energy leaders are holding high-level talks with senior officials of the current Mexican government in an effort to boost investment in oil, gas and power. This comes after Mexico’s government announced five energy projects worth $5 billion as part of a new public-private infrastructure plan. Four of the…

November 25, 2020
Pemex Remains Outlier as Fellow Latin American NOCs Embrace Divestment, Liberalization

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
Continuity of Mexico’s Energy Reform at Risk as AMLO Doubles Down on Threats

Continuity of Mexico’s Energy Reform at Risk as AMLO Doubles Down on Threats

Mexico President Andrés Manuel López Obrador has sent a memorandum to energy sector regulators underlining his government’s commitment to undo changes made during the previous administration while continuing to strengthen state oil company Petróleos Mexicanos (Pemex) and state utility Comisión Federal de Electricidad (CFE).  The eight-page memorandum, reviewed by NGI’s Mexico GPI, was dated July…

August 4, 2020
Despite Covid-19, Oil Curtailments, Pemex Maintains Production Rates in 2Q

Despite Covid-19, Oil Curtailments, Pemex Maintains Production Rates in 2Q

Mexico’s Petróleos Mexicanos (Pemex) held steady its oil and gas production in the second quarter despite major upheaval in oil markets caused by the coronavirus pandemic.  Liquid hydrocarbons production was 1.693 million b/d in the second quarter, flat compared with year-ago output of 1.690 million b/d.  The figure included the 100,000 b/d of output shut-in…

July 28, 2020
National Oil Companies Slash Capex Budgets in Unprecedented Crisis

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
Talos CEO Forecasts Positive FCF at $30 Oil, Says Trimming Capex by $125M

Talos CEO Forecasts Positive FCF at $30 Oil, Says Trimming Capex by $125M

Houston-based Talos Energy Inc. expects to generate positive free cash flow (FCF) in 2020 despite the current dismal outlook for West Texas Intermediate (WTI) oil prices, CEO Timothy Duncan said Thursday.

March 12, 2020
Lopez Obrador Government Fails to Change Old Trends at Mexico’s Pemex

Lopez Obrador Government Fails to Change Old Trends at Mexico’s Pemex

Mexico’s state oil and gas giant Petroleos Mexicanos (Pemex) saw 2019 production fall 7% on a year/year comparison to 1.68 million b/d, the company said in its fourth quarter earnings report.

March 3, 2020

NGI 2020: Pemex’s Lofty Natural Gas Output Goals Face Test in 2020 – Bonus Coverage

Editor’s Note: This is one of a 14-piece series NGI undertook as the energy industry readied for the new year, with Lower 48 natural gas and oil supply continuing to surge in an uncertain environment as liquefied natural gas exports ramp up, Mexico markets remain shrouded and stakeholders demand more value. Get your complimentary copy of NGI’s 2020 Special Report today.

January 2, 2020
Black Hole in Mexico’s Natural Gas Potential Said to ‘Threaten Nation’s Assets’ — Bonus Coverage

Black Hole in Mexico’s Natural Gas Potential Said to ‘Threaten Nation’s Assets’ — Bonus Coverage

As Mexico’s proven natural gas and crude reserves fall ever rapidly, analysts point to a “black hole” that is tied and bound in the red tape of bureaucracy.

April 24, 2019
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