pemex

Natural Gas Futures Start Week with Big Rally After Volatile Session; Cash Strengthens

Natural Gas Futures Start Week with Big Rally After Volatile Session; Cash Strengthens

Big fluctuations continued along the Nymex natural gas futures curve early Monday as traders wrestled with hotter shifts in the latest weather models and a step up in production. The September contract, which rolls off the board later this week, settled at $3.945, up 9.4 cents on the day. October also picked up 9.4 cents…

August 23, 2021
Pemex Posts Rare Quarterly Profit as Oil Prices Swing Upward

Pemex Posts Rare Quarterly Profit as Oil Prices Swing Upward

Mexico’s state oil company Petróleos Mexicanos (Pemex) posted a rare 14 billion-peso ($719 million) profit in the second quarter thanks to higher sales revenue. The oil giant had posted a $2 billion loss in the year-ago quarter.  Oil production rose to 1.736 million b/d in the second quarter compared with 1.673 million b/d in the…

July 28, 2021
Mexico Oil, Natural Gas Production Rises in June

Mexico Oil, Natural Gas Production Rises in June

Natural gas production in Mexico totaled 3.87 Bcf/d in June, up from 3.59 Bcf/d in June 2020, according to the latest data from upstream regulator Comisión Nacional de Hidrocarburos (CNH). The figure was also up compared to May, when Mexico produced 3.84 Bcf/d. State oil company Petróleos Mexicanos (Pemex) supplied 3.63 Bcf/d of the total…

July 27, 2021
Mexico ‘Avoids Environmental Damage’ in GOM Fire while Talos to Explore Zama Decision

Mexico ‘Avoids Environmental Damage’ in GOM Fire while Talos to Explore Zama Decision

Mexico’s state oil company Petróleos Mexicanos (Pemex) said an investigation is underway following a fire last Friday (July 2) near one of its Gulf of Mexico (GOM) platforms in the Ku, Maloob and Zaap (KMZ) megafield. Images of the eye-shaped fire went viral on social media as ships dowsing water on the flames appeared to…

July 6, 2021
Natural Gas, Oil Production Up in Mexico as Pemex Capex Set to Increase

Natural Gas, Oil Production Up in Mexico as Pemex Capex Set to Increase

Natural gas production in Mexico totaled 3.84 Bcf/d in May, up from 3.61 Bcf/d in May 2020, according to the latest data from upstream regulator Comisión Nacional de Hidrocarburos (CNH). State oil company Petróleos Mexicanos (Pemex) supplied 3.63 Bcf/d of the total, up from 3.37 Bcf/d in the year-ago month and 3.53 Bcf/d in the…

June 30, 2021
Mexico’s Pemex said Poorly Positioned to Capitalize on Oil Price Rally

Mexico’s Pemex said Poorly Positioned to Capitalize on Oil Price Rally

As major economies across the globe emerge from the doldrums of the pandemic and travel surges, oil prices could further spike and reach $100/bbl by next year, according to the most bullish Wall Street forecast yet this year. It could also mark the final surge in oil prices, however, as pressure intensifies on energy companies…

June 23, 2021
Talos Questions Latest Assessment of Zama Oil Discovery Offshore Mexico

Talos Questions Latest Assessment of Zama Oil Discovery Offshore Mexico

Talos Energy Inc. management on Friday indicated disagreement with the finding that Mexican state oil company Petróleos Mexicanos (Pemex) holds a majority gross interest in the Zama oil discovery offshore Mexico. Zama was discovered by a Talos-led consortium at shallow-water Block 7 in 2017, but the reservoir extends into a neighboring Pemex tract. A third-party…

May 24, 2021
U.S. Natural Gas Exports to Mexico Beating Expectations as Pemex Production Growth Fizzles

U.S. Natural Gas Exports to Mexico Beating Expectations as Pemex Production Growth Fizzles

Only a few months after President Andrés Manuel López Obrador vowed to end his nation’s dependence on natural gas imports from the United States, Mexico’s need for Lower 48 gas is surging. April is usually a month of lower energy demand in Mexico, when natural gas infrastructure undergoes maintenance and gas imports drop, but this…

April 20, 2021
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
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