Mexico ///

Changing the world, one supplier at a time

The oil & gas industry can be proud of the opportunities it creates in developing countries.

Pemex gets record $8 billion loan in bid to reassure investors

Mexico moved to bolster investor confidence in its embattled state oil company, announcing an unprecedented $8 billion syndicated loan along with new tax breaks for the energy producer.

McDermott awarded EPC contract by Eni México for Amoca field offshore Mexico

McDermott International, Inc. has announced the award of a contract by Eni México for engineering, procurement and construction of wellhead platform one (WHP1) to be installed in the Amoca field, located approximately 18 mi (30 km) offshore Dos Bocas in southeast Mexico.

Talos Energy provides update on Zama appraisal program

Talos Energy provides update on Zama appraisal program

Premier Oil has made successful well test of Zama discovery

Premier notes the press release by Talos Energy, the operator of Block 7 offshore Mexico, announcing the successful drill stem test (DST) of the Zama-2 side track well (Zama-2ST1).

Pemex could receive $7 billion to pay ballooning debt

Bankers in Guayaberas huddled in Acapulco to roll out a new online payment system and to pledge financial inclusion. But all anyone could talk about in the corridors was the nation’s ailing oil company, Pemex, and a new plan to try and save it.

AMLO risks a fall as he tries to pull Pemex back from the brink

Pemex is personal for Andres Manuel Lopez Obrador, who grew up in Mexico’s oil heartland at a time when the state company was a source of national pride.

Companies in the news

Michele Cowart, World Oil

Equinor has, together with its partners Petoro, ExxonMobil and Total, proven gas and condensate in the Norwegian Sea Ragnfrid North (6406/2-9 S) exploration well, located ~12.43 mi (20 km) south of the Kristin platform in the Norwegian Sea.

Simmons Edeco celebrates 57th anniversary with new base in Mexico

Simmons Edeco, supplier of onshore drilling and workover services to the global oil and gas industry, announced that it has opened its second operations base in Mexico.

Ampelmann enters the Mexican market after signing first contract

Dutch offshore access provider Ampelmann has secured its first contract in Mexico, adding a new region to its global portfolio.

S&P lowers Mexico sovereign outlook to negative on AMLO oil plan

S&P Global Ratings lowered its outlook for Mexico’s sovereign debt to negative from stable, saying the nation’s shift to limit private sector involvement in energy could lower economic growth prospects.

How Pemex became the most indebted oil company in the world

After more than a decade of declining production, wasteful spending and a higher tax burden than any other driller in Latin America, it’s little wonder Mexico’s Petroleos Mexicanos is the world’s most indebted oil company.

API joins consumer-focused coalition to push Congress to pass U.S-Mexico-Canada Trade Agreement

The American Petroleum Institute announced that it has joined the newly launched USMCA Coalition, backed by over 200 companies and associations across a wide variety of industries, to urge Congress to approve the U.S.-Mexico-Canada Agreement (USMCA).

AMLO's attack on energy regulator stirs concern dissent being silenced

Mexican President Andres Manuel Lopez Obrador has called the Supreme Court dishonest, lambasted Fitch Ratings as hypocritical and accused prior leaders of leaving a pigsty of corruption. But since taking office, he’s never gone after someone the way he has the nation’s energy regulator.

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.