Mexico ///

AMLO sounds death knell for oil reforms with Pemex farm-out halt

Mexico President Andres Manuel Lopez Obrador has suspended future Petroleos Mexicanos farm-out bids, putting one of the final nails in the coffin for the 2014 energy reforms that promised to reverse years of oil-production declines with private companies’ involvement.

Rowan executes contract with Petronas Mexico for Rowan Renaissance

Rowan Companies plc has announced that the Rowan Renaissance, an R-Class ultra-deepwater drillship, has been awarded a one-well contract in Mexico by PC Carigali Mexico Operations, S.A. de C.V. for an estimated duration of 80 days that is expected to commence in the second quarter of 2019.

Talos Energy provides update on Zama appraisal, offshore Mexico

Talos Energy Inc. has provided an update on the Zama appraisal in Block 7 offshore Mexico. Talos is the operator of Block 7 in a consortium (the Consortium) with its partners Sierra Oil and Gas S. de R.L. de C.V. and Premier Oil Plc.

AMLO cabinet skipped Davos to focus on graft fight, envoy says

Mexican President Andres Manuel Lopez Obrador asked his cabinet to skip this week’s World Economic Forum in Davos to focus on the government’s efforts to stop gasoline theft and attend to a pipeline explosion, according to the nation’s highest-ranking attendee.

Pemex's pipeline blast caused by rampant fuel theft, AMLO increases security, again

Mexico President Andres Manuel Lopez Obrador is doubling down on a controversial strategy to end fuel theft at Petroleos Mexicanos after a pipeline explosion caused by an illegal tap left at least 89 people dead and many injured.

Qatar Petroleum signs agreement to acquire interest in three offshore oil Fields in Mexico

Qatar Petroleum entered into an agreement with Eni to acquire a 35% participating interest in three offshore oil Fields in Mexico.

AMLO allocates $23 billion for Pemex to boost output in 2019

Mexican President Andres Manuel Lopez Obrador is boosting Petroleos Mexicanos’ budget to $23 billion (464.6 billion pesos) next year to reverse flagging oil production and increase domestic fuel output.

Qatar buys Mexico oil stakes from Italy's Eni after leaving OPEC

Qatar Petroleum is buying stakes in three offshore oil blocks in Mexico from Eni SpA, as the Arab country signs another global expansion deal after leaving OPEC.

Companies in the news

Michele Cowart, World Oil

Companies in the news

Premier Oil has completed the Babbage Area sale

Premier has completed the sale of its interests in the Babbage Area to Verus Petroleum SNS Ltd.

Sparrows signs five-year servicing order with Pemex Procurement International

Sparrows Group has signed a five-year blanket order with Pemex Procurement International, Inc. acting on behalf of Pemex Exploracion y Produccion (PEP) to service 41 of its cranes situated on assets in four of the Mexican national oil company’s developments in the region.

Talos Energy has commenced its Zama appraisal program

Talos Energy Inc. has announced that the Zama-2 appraisal well was spud in late November 2018. The spudding of the Zama-2 well marks the commencement of the Zama discovery appraisal program, which will consist of three reservoir penetrations, including two wells and one sidetrack.

McDermott wins contract for GOM field development

McDermott was awarded a contract for concept and engineering services for Talos Energy for the Zama field. The development is the first offshore Mexico block awarded to a private operator. The contract is for engineering services, including concept selection and follow-on pre-FEED.

Scottish universities to partner in major energy sector education program in Mexico

The North-east of Scotland is set for an international boost, as its universities have been named as two of only four European institutions to be chosen by the Mexican Government to work in collaboration with Mexican universities to address the future needs of the country’s energy sector.

Talos Energy gets approval for Zama appraisal plan

Talos Energy Inc. has announced the Mexican oil & gas regulator, the National Hydrocarbons Commission (CNH) has approved the appraisal plan for the Zama discovery.

Mexico oil auction winners stay positive as industry slows down

Mexico’s oil auction winners BHP Billiton Ltd and DEA Deutsche Erdoel AG are hopeful that the slowdown in bid rounds is a feature of the country’s political transition and won’t be permanent.

Pemex, Block 7 consortium sign Mexico's first pre-unitization agreement

Petróleos Mexicanos (Pemex) and Talos Energy, as operator of the Block 7 Consortium, have announced that Pemex and the international Block 7 Consortium (Talos Energy, Sierra Oil and Gas, and Premier Oil) have signed a pre-unitization agreement (PUA) related to certain tracts within the Amoca-Yaxche-03 allocation and the contiguous Block 7 production sharing contract.

Companies in the news

Michele Cowart, World Oil

LLOG Exploration delivered first production from its Crown and Anchor fields in the Gulf of Mexico, during second-quarter 2018.

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.