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Mexico and Brazil sign cooperation agreement

The National Hydrocarbons Commission (CNH) and the National Petroleum, Natural Gas and Biofuels Agency (ANP) of Brazil signed a technical cooperation agreement, according to a press release of the CNH.

Wednesday, September 14th, 2016
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Pemex’s financial debt

Pemex’s financial debt

Pemex’s financial debt continues growing and it seems that nothing could stop it. Pemex reported a total debt of US$YS$96.2B in 2Q16.

Wednesday, September 14th, 2016
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Federal Government releases economic conditions for Trión

The Secretariat of Finance and Public Credit (SHCP) announced the additional royalty values for the Trión block. According to Reuters, the maximum and minimum values are 4% and 3% respectively. On 5 December the bidding of this field will take place.

Tuesday, September 13th, 2016
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Government is close to finish the 10 thousand km of additional pipelines

The Federal Government plans to add 10,000 km to the National Gas Pipeline System and expects to complete them in 2019.

Tuesday, September 13th, 2016
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Pemex receives Platform Support Vessel

Pemex received a ship called “Pemex Reform”, recently in a private ceremony in Vigo, in the community of Galicia (Spain), a report in El Financiero mentions. It will be used to accommodate oil platforms workers.

Monday, September 12th, 2016
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Federal Government will cut Pemex´s budget in 2017

The Federal Government is seeking to reduce public spending. The new Secretariat of Finance and Public Credit, José Antonio Meade, said that the economic package for 2017, envisages a reduction of MXN$100B for Pemex budget.

Monday, September 12th, 2016
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Pemex discovers oil deposits

Although public investment in the oil industry fell 35.5% in 2016, Pemex has achieved to discover some crude deposits. These are located on the coast of Tabasco and near the Cantarell complex.

Friday, September 9th, 2016
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The Mexican government is buying put options

The oil prices drop has forced Mexican Authorities to buy coverage to ensure a minimum income per barrel. According to a report in Bloomberg, the government has spent US$1B buying put options.

Friday, September 9th, 2016
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Worldwide Oil discovery in 2015, the lowest since 1947

Low oil prices have forced companies to make budget cuts which has seriously affected exploration projects.

According to Economía Hoy, 2.700 mmbbl were discovered worldwide in 2015, this figure is the lowest since 1947. These oil discoveries represented one-tenth of oil found annually on average, since 1960.

Thursday, September 8th, 2016
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Low demand for tender in Trión Field

Mexican authorities had high expectations on the Farm-out agreement in the field Trión, but as we mentioned a few days ago, the National Hydrocarbons Commission (CNH) could postpone this tender. But why has been so low the interest in this agreement?

Thursday, September 8th, 2016
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