Mexico ///

AMLO targets $3.9 billion in new oil investment

Mexico’s next president Andres Manuel Lopez Obrador will allocate 75 billion pesos ($3.9 billion) in the budget next year to oil extraction in a bid to resuscitate flagging output.

Mexico's next president says historic oil auctions will continue

Mexico’s next president said he will continue with oil auctions in the first signs that he is backtracking on plans to scale back the country’s historic 2014 energy reforms.

Ikon Science donates geoscience software to Mexico's ITPE

Ikon Science, the leader in geoprediction technology, has donated 12 of its RokDoc geoscience software licenses to the ITPE - Instituto Tecnológico del Petróleo y Energía in Merida, Mexico.

Sources say AMLO plans to name Ruiz Alarcon as the next Pemex E&P chief

Mexico President-elect Andres Manuel Lopez Obrador will name Fluvio Ruiz Alarcon as Petroleos Mexicanos’s next exploration and production chief, according to two people with knowledge of the plans.

Mexican economy stalls with declines in oil and industry output

Mexico’s economy stalled in the second quarter amid a drop in oil and industrial output and a slowdown in services activity.

AMLO is said to favor cutting red tape on Pemex partnerships

Petroleos Mexicanos will be free to choose its own partners if Mexico’s next government has its way.

Mexico’s president-elect oil stance complicates Nafta talks

As Mexico pushes to wrap up a Nafta deal with the U.S., negotiators are facing a new challenge.

OPEC plus or OPEC minus? Rosneft points to oil cartel in flux

Since late 2016, the Organization of Petroleum Exporting Countries and other nations, including Russia, Kazakhstan and Mexico, have managed the oil market, giving birth to a group popularly known as OPEC+.

McDermott awarded EPCI subsea tie-back contract for Pemex's Ayatsil field

McDermott International, Inc. has announced a sizeable contract award by Pemex Exploración y Producción for subsea pipeline flowline installation in support of Ayatsil field, located 50 mi northwest of Ciudad del Carmen, in the Bay of Campeche, offshore Mexico.

Petrofac sells interest in Mexico for $200 million

Petrofac Limited has announced that it has signed an agreement to sell 49% of the Company’s operations in Mexico, including Santuario, Magallanes and Arenque, to Perenco (Oil & Gas) International Limited.

Eni gets approval for development of discoveries in Mexico's offshore Area 1

Eni announces that Mexico’s National Hydrocarbon Commission (Comisión Nacional de Hidrocarburos, CNH) has approved the development plan for the discoveries of Amoca, Miztón and Tecoalli, located in Area 1 (Eni 100%), in the shallow waters of the Campeche Bay.

Mexico's next president promises Pemex investment, names new CEO

Mexico’s incoming president named a new chief executive officer for Pemex and promised government investment of 75 billion pesos ($4 billion) in the oil sector, in a bid to revive the state-owned oil company.

‘Bridge to Nowhere’ leaves pent-up Permian gas problems unsolved

A major Mexican pipeline opened this week after almost two years of delays. That’s the good news for drillers across the border who are seeking an expanded market for natural gas siphoned from the pent-up Permian basin.

Steel tariffs: A campaign promise the oil industry hoped Trump would not keep

David Blackmon, Contributing Editor

On March 1, U.S. President Donald Trump announced 25% tariffs on imported steel and aluminum. The E&P industry is telling Congress and the administration that this is a bad idea. The real question is “Why Was Anyone Surprised?”

Mexico oil hedge expected to continue with president-elect, adviser says

Mexico’s new government will probably continue hedging the country’s oil output in what is the world’s largest annual oil deal, according to an economic adviser to president-elect Andres Manuel Lopez Obrador.

Mexico's oil reforms expected to slow down with new government

The election of Mexico’s first left-wing president in recent decades is expected to slow the country’s march toward the creation of a private oil market, though not derail it.

Pemex races ahead in hunt for partners as election approaches

Petroleos Mexicanos is accelerating efforts to bring on partners before an election that could slow foreign investment in Mexico’s oil industry.

The natural gas market in 2017

Armelle Lecarpentier, CEDIGAZ

In 2017, global natural gas demand’s above-average growth reshaped market fundamentals and  prevented the development of a global natural gas bubble. Meanwhile, global natural gas consumption doubled its 2016 growth rate, and it was well ahead of the previous five-year trend.

Mexico drillers sign first farm-out deal without state oil giant

Two upstart Mexican drillers have signed the first farm-out deal in Mexico’s oil sector that doesn’t include state company PEMEX.

Reeling from job cuts, Mexican oil country pins hopes on a rebel

In the wetlands of Tabasco in southeast Mexico, indigenous farmers stand guard outside oil wells. They have no official status -– but anyone who wants to do business there has to pay to get past.