pemex

Two events in the Gulf of Mexico have dented the latest 2021 supply forecast by the Organization of the Petroleum Exporting Countries (OPEC). In the cartel’s latest Monthly Oil Market Report (MOMR), oil supply outside of the OPEC countries for 2021 was revised lower by 0.17 million b/d from the previous forecast because of a…

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…

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…

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…

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…

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…

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…

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…

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…