pemex

Mexico’s state oil and gas giant Petróleos Mexicanos (Pemex) had a strange third quarter. Amid record commodity prices, the company posted a massive loss. But it also produced more hydrocarbons, in particular natural gas. In an earnings call last week, executives tried to put a positive spin on the results. They highlighted that Pemex liquids…

OPEC is forecasting full-year liquid hydrocarbons production of 2.0 million b/d for Mexico in 2022, flat versus 2021, followed by a slight decline in 2023.  Incremental production in 2022 “is expected to be driven by foreign-operated fields, while minor growth” is also expected in Petróleos Mexicanos (Pemex) operated fields, OPEC said in its latest Monthly…

Mexico is unlikely to substantially increase its natural gas production over the next five to six years, according to upstream regulator Comisión Nacional de Hidrocarburos (CNH). In its latest “prospectiva” or outlook for oil and natural gas output, the regulator modeled high, low and medium production growth scenarios for each hydrocarbon. The high case scenario…

Mexico’s Hydrocarbon Companies Association (AMEXHI) has urged the country’s Senate to expedite the appointment of a new head at upstream regulator Comisión Nacional de Hidrocarburos (CNH). Former head Rogelio Hernández’s resignation was made public last week, meaning the CNH now has three active members. By law, the CNH requires four commissioners for duties to be…

Executives at Mexico’s national oil company Petróleos Mexicanos (Pemex) said in an earnings call Monday that work toward improving natural gas use and lowering emissions is starting to pay off. Pemex reported a 42% improvement in natural gas capture in the first quarter. The company was able to use 91.6% of gas produced, flaring off…

Mexico’s Petróleos Mexicanos (Pemex) had yet another disastrous financial result in the fourth quarter, but executives in a conference call said they were buoyed by upstream results and were planning to spend more this year to get more oil and gas out of the ground. Capital expenditures (capex) for this year are pegged at “levels…

For this upcoming year, Mexico President Andrés Manuel López Obrador’s proposed constitutional energy reform – whether it gets enough votes to pass or not – will set the tone of his political agenda, according to analysts and experts in the field.

Mexico’s government is doing all it can to boost the fortunes of troubled state oil and gas giant Petróleos Mexicanos (Pemex), with the Finance Ministry again reducing the firm’s profit-sharing duty and injecting $3.5 billion to reduce debt. “Pemex is strategically important for the country, not only in its function as a provider of goods…

Mexican national oil company Petróleos Mexicanos (Pemex) and Braskem Idesa have reached agreement on an ethane supply deal, bringing to an end a year-long dispute that threatened to shutter the largest petrochemicals operation in Latin America. The Brazil-based Braskem SA unit said on Tuesday Pemex would supply 30,000 b/d of ethane to the Etileno XXI…