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Eye on Pemex

Mexico sees China as a new ally in the industry

Victor Gao, president of the China Energy Security Institute, said the arrival of China’s National Offshore Oil Corporation- CNOOC (NYSE: CEO) to Mexico, after winning two blocks in Round 1.4 is a good start for both countries regarding future alliances in the energy sector.

 

Tuesday, February 14th, 2017
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Pemex and CFE investigated by Attorney General’s office

Bribery, oil theft, document falsification, crimes against health and ‘vote buying’ are some of the misdeeds the Attorney General’s Office (PGR) is investigating inside the Federal Electricity Commission (CFE) and Pemex.

In total, the PGR has 22 open files for an undefined number of employees from both companies. All of them are in progress

Monday, February 13th, 2017
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Mexican reserves fall

Mexican reserves fall

Mexico´s reserves fell in 2015 compared to data for 2014. The National Hydrocarbons Commission (CNH) had not published data from last year because it found discrepancies in a review of some fields.

Thursday, February 2nd, 2017
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Pemex falls into Odebrecht net

Odebrecht has not accused Pemex of being involved in any of their corruption cases. However, the firm did sayit bribed Mexican authorities in charge of a State Owned Company during 2013-2014.

Thursday, February 2nd, 2017
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Pemex assigned MXN$24.7B to unsuccessful wells in 2016

According to Pemex reports, the NOC invested MXN$24.7B in unsuccessful wells as of September 30, 2016, representing an increase of approximately 78.4% over that reported in the same month of 2015 (MXN$13.9B.)

Wednesday, February 1st, 2017
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Pemex infrastructure on sale?

Pemex infrastructure on sale?

According to Bloomberg, Pemex is now looking at what to do with its midstream assets such as processing, storage, transportation and marketing, and one of its options could be selling them.

Tuesday, January 31st, 2017
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Pemex will have a storage terminal in Chiapas

Governor of Chiapas Manuel Velasco, and President Enrique Peña Nieto, will inaugurate Pemex’s new Storage and Distribution Terminal (TAR) in Puerto Chiapas, after years of managing its relocation.

Tuesday, January 31st, 2017
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Supreme Court rules in Pemex favor

The Supreme Court of Justice of the Nation (SCJN) absolved Pemex of paying a million-dollar fine. The NOC was accused of monopolistic practices in fuel sales.

Tuesday, January 31st, 2017
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US to stop buying Mexican oil

Mexico has been left alone in the difficult negotiation it will soon have with Donald Trump’s government on the Keystone XL pipeline’s construction that will be developed by Canada’s TransCanada (NYSE: TRP).

Thursday, January 26th, 2017
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Micro-refineries: a viable option for Tamaulipas

Developed with private capital that often comes from Texas, micro- refineries have been seen as a viable project to be set in Tamaulipas.

Wednesday, January 25th, 2017
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