WorldOil Simmons Edeco completes Panuco drilling campaign in Mexico Simmons Edeco has successfully completed a second series of development drilling of wells for a major oilfield services company in Mexico. PEMEX expects its oil hedges to generate $311 million this year Pemex hedged its crude exports at an average of $49 a barrel using Asian put-spread options with monthly maturities for the period between Dec. 16 last year and Dec. 15 this year. China should follow Mexico’s oil hedging strategy, says CNPC researcher A researcher at China’s biggest oil company said the country’s drillers should copy the hedging strategies of Mexico and shale firms in the U.S., which use financial derivatives to protect against falling oil prices. By prioritizing domestic output, Mexico’s AMLO emerges as oil war’s winner Mexican President Andres Manuel Lopez Obrador scored a political victory on Sunday by convincing oil nations to let him cut production far less than other OPEC+ members, reinforcing his nationalist project to revive state-owned producer Pemex. Détente in oil price war as OPEC+ agrees to 9.7MMbpd cutétente-in-oil-price-war-as-opecplus-agrees-to-97mmbpd-cut The world’s top oil producers pulled off a historic deal to cut global crude output and work towards an end to a devastating price war. Mexico-Saudi standoff shifts focus to exports versus production As a standoff between Saudi Arabia and Mexico threatens to thwart a historic deal to cut oil production, the solution may be to shift the goalposts: measure exports rather than output. Mexico’s secret weapon in the oil price war As Mexico and Saudi Arabia fight over a deal to bring the oil-price war to an end, Mexico has a powerful defense: a massive Wall Street hedge shielding it from low prices. Mexico accepts oil output deal, says Trump resolved its impasse with OPEC+ Mexico said it has reached an agreement with OPEC+ for deep oil-production cuts, after an intervention from U.S. President Donald Trump resolved an overnight impasse. OPEC+ deal threatened as Mexico walks out, refusing to participate in cuts An agreement between Saudi Arabia and Russia for record oil-production cuts was endangered late on Thursday as Mexico refused to participate in the curbs and left the meeting without approving the deal. Pemex plans to double its well count in spite of oil price crash Petroleos Mexicanos aims to nearly double drilling to 423 wells this year and accelerate development of 15 recent discoveries, even though experts say many are unprofitable at current prices.