Colombia’s state oil company Ecopetrol SA will continue its foray into shale plays in 2021, principally in the prolific Permian Basin in the United States but also in a pilot program at home. The company will spend more than $600 million in unconventional plays next year, part of an overall capital expenditure (capex) plan of…
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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
Mexico Ruling on Zama Unitization to be Crucial Decision in 2021, Expert Says
“The Zama case is very important in our eyes and in the eyes of all oil investors, international and domestic, because of the precedents that will be set when the state oil company wants a share of production,” George Baker, Managing Principal of the Houston-based consultancy Baker & Associates and long-time publisher of the Mexico…
December 18, 2020
Mexico Said to be Facing ‘Triple Crisis’ Amid Pandemic Response
Mexico is facing a “triple crisis” on the public health, economic and governance fronts, with worrying implications for the energy sector and few encouraging signs for the near future, according to Tony Payan of Houston’s Rice University. After posting flat growth in 2019, the world’s 14th-largest economy is projected to shrink by at least 10.5%…
July 7, 2020
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