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Eye on Pemex

Pemex and its alleged shell companies

An investigation accuses Pemex of ‘money laundering’ through shell companies in tax havens.

Tuesday, September 19th, 2017
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Pemex’s budget cut threatens service industry

By 2018, Pemex could reduce its operating expenses by 31% (to MXN$29.2B), according to the Federal Expenditure Budget Project, which if approved, could jeopardize the finances of the NOC’s chain of suppliers.

Monday, September 18th, 2017
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Pemex will focus on five blocks

Pemex will focus on five blocks

Pemex has no budget to invest in a broad portfolio of projects, so it is implementing a strategy to focus on the most attractive blocks.

Thursday, September 14th, 2017
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Ku-Maloob-Zaap will start its natural decline

Ku-Maloob-Zaap will start its natural decline

Pemex metrics continues to fall in terms of production, and there is no solution at least for the short term. In fact, bad news keeps appearing for Pemex, as its main asset Ku-Maloob-Zaap is set to reduce its extraction.

Wednesday, September 13th, 2017
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Pemex to layoff yet again

Pemex is facing a difficult situation and although oil prices are stable, the company still does not show signs of improvement. The NOC plans to carry out a new staff cut next year.

Wednesday, September 13th, 2017
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Production target for 2018

Production target for 2018

Pemex’s outlook is not very encouraging for the short term, especially in terms of production. The company published its production targets for this and next year.

Monday, September 11th, 2017
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Pemex will receive MXN$18B less in 2018

This budget cut would represent 4.6% less for the NOC, compared to the resources it received in 2017.

Monday, September 11th, 2017
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Pemex to reduce production in Ku-Maloob-Zaap

Pemex to reduce production in Ku-Maloob-Zaap

Ku-Maloob-Zaap is Pemex’s main asset of at present, as it is producing more than 800mbd. Pemex plans to make investments and maintenance work to leverage this important block. The company announced a temporary reduction in production in this area.

Thursday, September 7th, 2017
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Pemex invests less in E&P

Pemex invests less in E&P

Pemex continues to reduce its budget to invest in exploration and production, the key activity to increase its metrics. The company reduced the resources destined to exploration, production and industrial transformation.

Wednesday, September 6th, 2017
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“The oil and gas business depends on alliances”: González

Pemex’s CEO, Jose Antonio González, talked about the company’s current situation, politics, corruption and what can be done to improve the financial situation of the firm.

Tuesday, September 5th, 2017
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