WorldOil Pemex oil output rises as new wells offset recent accidents Petroleos Mexicanos reported a small increase in third-quarter production after adding new wells, which more than offset the impact of two accidents at its offshore operations. Pemex CEO says Mexico’s government will take over debt payments Mexico President Andres Manuel Lopez Obrador, the great champion of his beloved but beleaguered state-owned oil giant, may be making his boldest move yet to keep it afloat. Mexico’s president earmarks $32B to help Pemex boost oil production Mexico President Andres Manuel Lopez Obrador is raising Pemex’s spending plan for next year to about $32 billion in a bid to boost flagging oil production. Pemex reduces 2022 oil output forecast after platform troubles Mexico cut its forecast for oil production at Pemex next year and reduced its tax burden after a string of accidents at offshore platforms signaled the highly indebted state company is struggling. Talos pushes back against Pemex over Zama oilfield takeover Talos Energy Inc., the U.S. offshore explorer behind Mexico’s largest oil discovery in years, is taking the first step toward an international dispute after control of the field was given to state producer Pemex. Mexico’s new finance minister supports Pemex, but won’t modify laws As the government pushes for a constitutional reform to electricity laws, Finance Minister Ramirez de la O said now “would be a little late” to change overall energy laws that last decade gave private companies access to the Mexican market. Pemex presses forward with money-losing U.S. refinery purchase The Texas oil refinery that Pemex is buying has racked up a rare net loss of about $360 million this year, adding to the challenges Mexico faces in seeking energy independence. State oil companies begin their own moves toward carbon neutrality Pemex left investors with more questions than answers after it announced in late July that it would be disclosing its greenhouse gas emissions on a more regular basis — then refused to discuss why they’d soared by double-digits from April to June, compared to a year ago. Mexico bans Vitol, Trafigura from new oil trades on corruption allegations Vitol Group and Trafigura Group -- both barred from new oil-trading business with Mexico’s state producer for alleged corruption -- will be subject to the ban until at least the end of 2024 while the government reviews the conduct of other commodity traders, Energy Minister Rocio Nahle said. Pemex struggling to fund Zama oilfield it fought to control Pemex fought tooth and nail to wrest control of the country’s biggest private oil find from the companies that discovered it. Now it has found itself without the cash to actually develop the field.