Pemex Suspends Some Deep Water Exploration Projects

Mexico's state-run oil company Pemex has postponed some deep water exploration projects among a raft of planned capital delays due to slumping crude prices, CEO Emilio Lozoya said on Wednesday.

Pemex said on Monday it would delay execution of capital projects including major refinery reconfigurations and ultra-low sulfur fuel projects because of a sharp fall in oil prices.

Lozoya said however a so-called 'Round One' of oil contract tenders as Mexico opens up its energy fields would go ahead as planned.

Reporting by Mexico Newsroom