pemex

Petroleos Mexicanos, the state oil company, is seen by most Mexicans as a blessing but at times a curse to the nation — a proud symbol of identity, but also of mismanagement, impunity and corruption.

Top executives from Petroleos Mexicanos (Pemex) and Mexican government officials hit the road last week to drum up interest in the national oil company’s latest batch of farmouts.

Mexico’s proven, probable and possible, i.e. 3P, reserves of oil and natural gas slipped to 25.5 billion boe at the end of 2017, down from 25.9 billion boe a year earlier, the National Hydrocarbons Commission (CNH) reported last week.

Petroleos Mexicanos (Pemex) plans to drill a test well later this year for the offshore Zama reservoir, a private sector-led discovery that may overlap with a neighboring block controlled by the state oil company.

Theft of gasoline in Mexico is expected to increase by about 50% this year, costing Petroleos Mexicanos (Pemex) a record of more than $1.5 billion a year, up from $1 billion in 2017, Carlos Treviño, the state company’s director-general, said recently.

A critical assessment of Mexico’s new hydrocarbons industry framework has highlighted milestones and areas for improvement four years into the country’s historic energy reforms.

As world oil prices have risen, so too have suggestions of an initial public offering of shares in the Mexican state oil company, Petroleos Mexicanos (Pemex).

Energy regulators have issued a draft proposal outlining the final phase of Mexico’s release program for the natural gas marketing portfolio of Petroleos Mexicanos (Pemex), the state-run former oil and gas monopoly.

In what will be the largest auction of its type, Mexico’s state-owned oil company Petroleos Mexicanos (Pemex) is to offer seven farm-out license contracts in southeastern Mexico, the industry regulator, the National Hydrocarbons Commission (CNH) agreed Thursday.