Mexico ///

Mexico’s giant oil find is no miracle cure for ailing Pemex

Even as Mexico’s president and Pemex’s CEO touted the country’s most important find in three decades, it appears to be far from a panacea for the beleaguered state driller.

Months of unpaid bills in Mexico’s oil patch add to Pemex woes

Companies that help keep Mexico’s faltering oil wells operating are waiting months to get paid and the debts are building up, complicating efforts to revive an industry whose production has plunged by half since 2004.

Mexico’s curious clean-energy credit use deters renewable energy development

The government of Andres Manuel Lopez Obrador is changing rules for clean-energy credits, allowing aging hydroelectric dams operated by Mexico’s state-owned utility to qualify. The move, critics say, dilutes the value of credits initially intended for new wind and solar farms.

Paradigm Group expanding Middle East, Mexico teams to meet service demand

Paradigm Drilling Services has recently expanded their teams in the Middle East and Mexico to service increasing drilling equipment demand.

Pemex increases output by tapping more readily-accessible fields

Bonds of Petroleos Mexicanos rose after the producer reported the first output increase in six quarters as it taps easier-to-reach onshore and shallow water fields.

Maersk Supply Service brings second I-class vessel to Mexico

Maersk Supply Service has secured a 1.5-year contract with Blue Marine Group to support Pemex from subsea support vessel Maersk Installer.

Pemex faces oil trading team exodus amid pricing review

The departures were sparked by a disagreement within the company over an external review of new formulas created to price oil sales to refiners in the U.S. and elsewhere.

Petrofac sells remaining 51% of Mexican operations

Petrofac has signed an agreement to sell its remaining 51% interest in its operations in Mexico, including Santuario, Magallanes and Arenque, to Perenco International.

Schlumberger begins wide-azimuth survey, including Zama-1, in Campeche, Mexico

Schlumberger will start a new 5,080-km2 wide-azimuth (WAZ) multiclient survey in the Salina del Istmo Basin in the Gulf of Mexico Bay of Campeche, providing the first 3D coverage over this shallow-water target area that includes the recent Zama-1 discovery.

Swire and Whittaker partner up to enter Mexico market

Whittaker Mexicana will offer a full range of Swire Oilfield Services DNV 2.7-1 certified units included Offshore Containers, baskets, waste skips and tanks to support the increased international operators drilling campaigns across Mexico.

Talos lands extension and approval for additional exploration offshore Mexico

Talos Energy has received a two-year contract term extension as well as regulatory approvals for additional exploration activities on Block 7, located in the offshore portion of Mexico's prolific Sureste basin. Talos is the operator of Block 7 in a consortium with its partners Sierra Oil & Gas and Premier Oil.

Mexico’s budget assumes an oil output surge not seen since 1982

Mexico’s balanced budget for next year depends in part on its oil company boosting production by about 17%, something that the country hasn’t achieved in almost four decades.

MODEC awards Trelleborg fast-track contract for ENI Mexico Area 1 FPSO

Trelleborg’s offshore operation has been awarded a fast track contract to produce over 80 laminated elastomeric bearings for MODEC, a leading specialist for offshore floating solutions.

Mexico opens door to going naked on oil hedge

Mexico usually buys put options from a small group of investment banks, starting as early as May, in what’s considered one of Wall Street’s largest -- and most secretive -- annual oil deals.

Pemex commits $10 billion to onshore and offshore field development

Pemex received approval from Mexico’s National Hydrocarbon Commission (CNH) for a $10-billion, 25-year investment commitment to develop onshore and offshore exploration opportunities.

Borr Drilling lands three jackup contract with PEMEX

Borr Drilling has secured an integrated services contract to provide three jackup rigs to PEMEX under its “Cluster 2” agreement.

AMLO says Pemex won’t get emergency funds as there’s no crisis

Pemex won’t get a cash infusion from the country’s rainy-day fund, even as crude output declines and refineries idle.

Mexico’s president seeks to replicate India’s successes as Pemex slumps

AMLO seeks to invest $8-billion in a new refinery, modeled after Reliance's Jamnagar compound, while current refineries run below capacity and Mexico imports foreign fuel to meet demand.

Pemex seeks to reverse oil declines, balance budgets

Mexico’s Petroleos Mexicanos aims to balance its budget by 2021 and reverse a decade and half of declining crude production as early as next year.

Pemex under pressure with AMLO ruling Mexico’s economy

The surprise departure of Mexico’s finance minister has the state oil company’s watchers biting their nails.