Pemex to Speed up Pace of Farmouts, Partnerships-CEO
Mexico's state oil company Pemex will increase the pace of setting up new farmouts and partnerships with private companies in order to increase oil production, PEMEX chief executive Jose Antonio Gonzalez Anaya said on Thursday. Gonzalez was speaking at an oil industry event in the central Mexican state of Puebla, Pemex said in a statement. (Reporting by Michael O'Boyle)
Pemex Seeks Refinery Investors, but Who's Buying?
Sweeping energy reforms have turned Mexico into one of the world's most attractive offshore prospects, but one segment is getting no love from U.S. investors: the nation's aging refineries. Efforts by Mexico's state-owned oil company Pemex to attract about $5 billion in capital to help modernize its two largest refineries so far have proved futile, according to two people familiar with the process who declined to be named because they were not authorized to speak publicly.
Pemex Eyeing Tie-ups for Hydrogen Plants at Refineries
Mexico's state oil company Pemex is planning to form alliances around hydrogen plants at its refineries, Pemex chief Jose Antonio Gonzalez Anaya said on Tuesday. In February, Pemex said it will partner with France's Air Liquide SA to operate an existing hydrogen plant and build a second one at its Tula refinery. Mexico has five more refineries. (Reporting by Anthony Esposito)
Latin America Struggles to Stem Pricey Fuel Imports
Analysts expect consumption to keep growing in coming years; Mexico was the largest fuel importer from the U.S. in 2016. Latin American countries are becoming more reliant on costly fuel imports amid floundering efforts to bolster domestic oil output and expand refinery capacity. Incomplete reform projects and budget cuts that have stalled investments are aggravating the situation for many Latin American countries. For refiners in the United States, it is a bonus: they have in their own backyard a ready market for rising fuel exports.
Pemex Eyes Refinery Partnerships in Bid to Boost Efficiencies
Mexico's Pemex will seek partnerships with other companies to make its refineries more efficient, the head of the state oil giant said on Tuesday, citing its successful joint venture with Royal Dutch Shell in Texas. Pemex, which is grappling with a complex financial situation, has six refineries in Mexico with a combined capacity to process 1.6 million barrels per day (bpd). But oil production has been declining and reached just 1.08 million bpd in July.
Pemex Sees Oil Output Boost from Looming Joint Ventures
Mexican state oil company Pemex expects to boost crude output over the next few years with a handful of joint ventures that will focus on onshore and offshore fields, a company official said, outlining areas it will seek to develop with outside producers. New production from the future joint ventures, or farm outs, is forecast to add about 400,000 barrels in new daily crude output and bring the company's total to about 2.5 million barrels per day (bpd) in 2022, according to a presentation to investors published earlier this year.
Pemex Says Trion Field Approved as First Farm Out
The board of Mexican state oil company Pemex has authorized the process of launching the first so-called farm out as part of the opening of the local oil and gas industry, chief executive Jose Antonio Gonzalez Anaya said on Friday. The planned tie-up will be in the Trion field in the Perdido area near the U.S. border, he told a news conference. It was likely that the operating company would not be Pemex, he added. Energy Minister Pedro Joaquin Coldwell said the contract for the deep water farm out would be a license. (Reporting by Ana Isabel Martinez)
Pemex Blast Death Toll at 24, Leak Blamed
Pemex says death toll from blast could still rise; Pemex CEO says unclear what caused the accident. Twenty-four people died after a leak caused a deadly petrochemical plant blast, and the death toll could still rise, Mexican oil giant Pemex said on Thursday, the latest in a series of fatal accidents to batter the company. Pemex CEO Jose Antonio Gonzalez Anaya, who traveled to the site of Wednesday's blast near the port of Coatzacoalcos, one of Pemex's top oil export hubs, told local television it was unclear what caused the accident.
Pemex Production Drops Due to Budget Cuts
Production at Mexican state oil company Pemex is likely to fall by around 100,000 barrels per day (bpd) due to a current round of budget cuts at the firm, chief executive officer Jose Antonio Gonzalez Anaya said on Monday. The drop should be reversed at some point, Gonzalez told a news conference, but he did not specify when. (Reporting by Ana Isabel Martinez)
Pemex to Defer More Than $2.5 bln Worth of Projects
Mexican state-run oil company Pemex said on Monday it would put on hold projects worth some 46.8 billion pesos ($2.58 billion) to help it cope with short-term financial difficulties, mainly liquidity, caused by an ongoing slump in oil prices. Pemex's new Chief Executive Officer Jose Antonio Gonzalez Anaya told a conference call he was not optimistic that prices would recover in the near-term, saying he saw international oil prices averaging around $25 per barrel in 2016 -- around $10 below current levels.
