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Eye on Pemex

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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Mexico, world´s largest production fall

Mexico, world´s largest production fall

Mexico was the country with the worst performance in terms of production during 2015, falling back -7%, according to the annual BP statistical report.

Monday, June 13th, 2016
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Mexican oil extraction falls

The latest extraction data for May, published by Pemex, is not very positive because production stood at 2.17 mmbbl, which shows a drop of 2.3% compared to the same period last year; production at that time was 2.22 mmbbl.

Thursday, June 9th, 2016
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Pemex growing exports to Europe and Asia

Noticing the threat posed by dependence on oil exports to one country (USA), Pemex has been implementing a strategy of market diversification since 2011. Crude sales to its main buyer, the US, have fallen 37% (2011-2015), from 1.24 mmbbl to 691 mbbl, mostly because USA has gone from being an importer to producer.

Wednesday, June 1st, 2016
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