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Eye on Pemex

Pemex remains in red

Pemex does not show any improvement sign, the latest crude export report for June, notes that it fell 8.8% respect to May.

Tuesday, August 2nd, 2016
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Pemex´s long-term debt

Pemex had to borrow money to remain operating. Last week, the state-oil company issued 10-year bonds, increasing significantly its long-term debt. The bonds worth US$771M.

Monday, July 25th, 2016
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Pemex keeps shutting-in wells

In the past three years, 946 wells producing oil and gas have been shut-in. Pemex reported 9.043 wells operating last May. It means a 9.47% reduction compared to 2013, when it were operating 9.989 wells.

Monday, July 25th, 2016
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Pemex let it burn its own gas

When Mexico is in need of this fossil fuel to generate electricity, Pemex leaves lose a lot of their production.

Tuesday, July 19th, 2016
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Pemex´s debt with suppliers

Pemex’s debt with oilfield services companies is MXN$50B (approx. US$2.7B) and according to a Forbes report, providers are expecting that the state-oil company pay the debt in September this year.

Monday, July 18th, 2016
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Exports to the US keep falling

Mexico exported about 92 million barrels to the US between January and May. It represents a 16.3% fall comparing to the same period last year, when the country sent 110 million barrels, according to a US Department of Commerce (DOC) report.

Wednesday, July 13th, 2016
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Pemex has had a bad semester

Pemex has revealed production data and these are not positive. According to El Financiero, in the first half of 2016, crude oil extraction fell 2.5% compared to the same period last year.

Monday, July 11th, 2016
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Pemex Trade Balance

Pemex Trade Balance

After six consecutive months with a negative trade balance, in May Pemex registered a surplus in its trade balance of US$ 24 million, according to Pemex reports.

Thursday, June 30th, 2016
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Pemex suspends 38% of contracts for platforms

According to the Mexican Association of Petroleum Industry (Amipe), Pemex in platforms contract renewal, has made the determination to temporarily suspend 20, renew another 20 and cancel the remaining (13).

Friday, June 17th, 2016
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Pemex seeks foreign investors for farm-outs partnership

Currently José Antonio González Anaya, CEO of Petróleos Mexicanos (Pemex), is in London, seeking agreements with European investors for the first farm-out in the Gulf of Mexico.

Thursday, June 16th, 2016
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