WorldOil Mexico’s president pushes nationalist agenda after Texas gas disruption AMLO has turned the Texas freeze crisis into a rallying cry for more energy independence, weaponizing it to advance a nationalist agenda that has implications beyond natural gas imports and threatens tens of billions of dollars of investments in renewable energy by U.S., Canadian and European energy companies. Upstart driller seeks to break Mexico’s dependence on Texas natural gas An upstart driller in Mexico aims to provide 10% of the country’s natural gas needs as it develops prospects south of Texas’s border. Harbour Energy to keep its stake in Mexico’s Zama oilfield A new company soon to be created by Chrysaor Holdings Ltd and Premier Oil Plc will likely retain its stake in the giant Zama oil development in Mexico, reversing an earlier decision by the indebted North Sea driller to exit the project. Pemex discovers new billion-barrel oil field in Tabasco Pemex is under pressure to prove that the company is increasing production under the government of President Andres Manuel Lopez Obrador, who swept into power in late 2018, promising to revive it by rolling back the liberalizing energy reforms of his predecessor. Mexico plans tax breaks for Pemex among limited fiscal aid options Lowering Mexico's tax demands on Pemex, its biggest taxpayer, could help the oil giant reorder its finances as it struggles with a $110.3 billion debt load, sinking production, and some of the highest tax obligations of any oil company in the world. Mexico pouring money into Pemex, at the environment’s expense After a landslide victory in 2018, Mexico's president has cut the knees off a booming renewables market, plowed money into Pemex, and pursued two major infrastructure projects that environmentalists consider ecological disasters. Petrofac completes sale of its Mexican operational interests Petrofac Limited announced that the Group has completed the sale of its remaining 51% interest in its upstream IES operations in Mexico, including Santuario, Magallanes and Arenque, to Perenco Energies International Limited. Lower Mexican output in 2021 will raise Canadian heavy oil prices Oil sands producers will benefit from less output of competing crude from Latin America as Pemex expects to cut exports while Venezuelan supplies remain off limits due to U.S. sanctions. Pemex leverages market opportunities in $1.5 billion debt sale Petroleos Mexicanos returned to capital markets Thursday for its first debt sale since January as the embattled oil producer seeks to tap improved demand from investors. Oil price swings suggest Mexico’s 2021 oil hedge is underway Every year, the Latin American nation locks in the price of its oil exports by buying put options from Wall Street banks. The deal typically roils the market, creating violent swings in the price of oil options.