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Eye on Pemex

Mexico’s production goal for 2030

Mexico’s production goal for 2030

The Mexican government created the Energy Reform to boost the oil industry and seize the potential in hydrocarbons resources. Oil production could reach historically high levels in a positive scenario in 2030, despite bad extraction metrics at present.

Tuesday, May 30th, 2017
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Companies announce their first oil sales in Mexico

The National Hydrocarbons Commission (CNH) issued an invoice to Argentina’s Hokchi consortium for the value of US$183,084, corresponding to a test production of 4.2mbbl of medium oil in a block the companies won in Round 1.2.

Tuesday, May 30th, 2017
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Pemex is on track to meet its oil target

Pemex is on track to meet its oil target

The company’s production metrics continue to decline. Pemex announced an additional drop in its oil production during April. The firm’s production target is 1,944mbd, according to its business plan for 2017-2021.

Friday, May 26th, 2017
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Budget cuts affected projects to face oil theft

Budget cuts affected projects to face oil theft

Fuel theft has increased in recent years and Pemex has projects to combat this problem but its budget is very low at present.

Thursday, May 25th, 2017
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Pemex CEO goes to the Middle East

Jose Antonio Gonzalez, CEO of Pemex, met with executives from Saudi Arabia and Kuwait’s biggest oil companies.

Thursday, May 25th, 2017
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CNH grants Pemex the Chachiquin block

The National Hydrocarbons Commission approved the block’s allocation to Pemex, but only if it develops the area with a partner.

Wednesday, May 24th, 2017
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Pemex must “take decisive measures”, says Board of Directors

Pemex must “take decisive measures”, says Board of Directors

Pemex’s Board of Directors pronounced on the company’s situation and gave recommendations for advancement in the coming years. The Board analyzed the firm’s performance during 2016.

Tuesday, May 23rd, 2017
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Number of working Pemex rigs is the lowest in two decades

Number of working Pemex rigs is the lowest in two decades

Pemex reported a historical low number of working rigs during 1Q17. Last year figures were bad, but were worse in the first quarter of 2017. Budget cuts and low oil prices are the main reasons for this critical situation.

Thursday, May 18th, 2017
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Oxxo Gas and Petro 7 about oil theft

The companies are evaluating supply alternatives to avoid costs associated with this crime when they work with Pemex.

Thursday, May 18th, 2017
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Pemex trade balance still negative

Pemex trade balance still negative

The NOC reported its results for 1Q17. Despite good financial performance, the company is still showing red numbers in production and international commerce. This time we will analyze the Pemex trade balance.

Thursday, May 18th, 2017
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