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ExxonMobile here to stay; Pemex nixes Zama well; Cofece-CRe dispute — HCM for 2021 06 14

Despite the regulatory and political challenges, ExxonMobil is in Mexico to stay; Pemex will not drill Zama well; Supreme Court to hear Cofece-CRM dispute.

Sunday, June 13th, 2021

Lukoil to drill first well; Pemex shifts in Uchukil, Samaria; Deer Park better than Dos Bocas — HCM for 2021 06 11

Russian oil producer Lukoil is set to drill its first exploration well in Mexico; Pemex gets approval to adjust plans for Uchukil and Samaria; Analysts see the upside in Deer Park compared to Dos Bocas.

Friday, June 11th, 2021

AMLO promises union contract review; ENI Exploratory well; Saline Cruz Sabotage — HCM for 2021 06 09

AMLO says once an election in the Pemex workers’ union occurs there will be a review of its collective contract; ENI will invest nearly US$ 30M into an offshore exploratory well; AMLO says the Salina Cruz refinery has been a target of sabotage.

Tuesday, June 8th, 2021

Pemex fuel production down, imports up; No more than 2M for the NOC; Roma exploratory well approved — HCM for 2021 06 03

Pemex was forced to import more fuel to cover for a 25% drop in output in April; AMLO assures the NOC will produce no more than 2Mbd; Roma Energy gets an exploratory well approved by the CNH

Wednesday, June 2nd, 2021

Hydrocarbons Law starts then stops; Betting on Deer Park — HCM Monthly for 2021 06 01

AMLO signed the Hydrocarbons Law into effect in May, only to have it halted by the judicial system. The Mexican President promises a Supreme Court showdown, and his bet on buying out Shell at the Deer Park Refinery in Texas has many questioning the financial implications.

Monday, May 31st, 2021

Hokchi Energy block plans; Pemex Soledad Investment; AMLO, Romero claim NOC drained by private companies — HCM for 2021 05 28

Hokchi Energy received approval for its work plan from the CNH, Pemex will invest up to US$ 40M in the Soledad assignment, AMLO and Romero claim Pemex became a cash cow for private companies under past administrations

Thursday, May 27th, 2021

Jaguar E&P approval, Pemex Octli investment, Natural gas opportunities — HCM for 2021 05 27

CNH approves Jaguar E&P’s Miguel Hidalgo field transition program, Pemex has plans to develop the Octli field and IEnova targets regasification for growth despite Mexico’s slow energy transition.

Thursday, May 27th, 2021

End the Huachicol, Poor Exploration Outlook, Pemex buys out Shell in Deer Park – HCM for 2021 05 26

AMLO continues on his crusade to return the fuel monopoly to Pemex claiming it is necessary due to corruption, the exploration strategy of Pemex is creating risks for public finances in the future and Pemex will now buy the 50% stake of Shell in the Houston based Deer Park refinery. 

Tuesday, May 25th, 2021

Trade Agreements; Pemex SEC conflict brewing; Pemex Copali Well — HCM for 2021 05 25

Northern neighbors called on Mexico to respect investments, Pemex’s lax reporting standards could be creating a conflict with the SEC, the NOC has a green light for its Copali well.

Monday, May 24th, 2021

Returning to Chicontepec; Bunker Oil Production; Pemex to Reacquire Plants — HCM for 2021 05 24

Despite a need for Fracking, Pemex is planning to resurrect its attempts at producing the Chicontepec resource; the NOC’s bunker oil production is hitting new highs: and Pemex also plans to reacquire two hydrogen plants.

Friday, May 21st, 2021