OPEC continue tense talks
OPEC officials are trying to salvage a deal to limit oil production before they meet officially on Nov 30. Tensions are growing between the group and Russia, who has agreed to freeze rather than lower production, while doubts abound over Iran and Iraq’s openness to any cuts.
Following the results of the US election, the markets have reacted in different ways and ripple effects are expected across several industries globally. As Mexico continues to roll out its 2013 Energy Reform, questions about how the US’ political direction will affect Mexico’s opening oil and gas market abound.
The Mexican Peso
The Mexican […]Continue Reading →
The terms of December’s Trion farm-out have been loosened for a second time in recent months after Mexico’s oil exploration and extraction regulator CNH ruled on Oct. 15 that companies qualified as operators can bid individually in the tender.
Previous terms required them to bid in groups.
This could lead to a single operator winning […]Continue Reading →
Malaysia’s oil & gas services provider giant SapuraKencana is in the process of building a US$113 million 18km gas pipeline to connect platforms E-KU-A2 and CA-AJ-1(J4) of the Ku-Maloop-Zaap (KMZ) heavy oil crude field in Mexico’s Campeche Sound.
The contract, awarded in July to the company by Mexico’s state-owned oil firm PEMEX, was obtained through […]Continue Reading →
Mexico’s oil regulator announced that PEMEX’s agreed stake in the upcoming Trion farm-out is to be reduced to 40 percent, down from the original 45 percent. The Trion block, located in the Perdido Fold Belt, is set to become the first area in Mexico’s deep waters involved in a joint venture between PEMEX and […]Continue Reading →
Last Thursday McDermott International, Inc. started the construction of Abkatun-A2, the largest McDermott project for PEMEX regarding size and financial investment. Abkatun-A2 will replace the platform Abkatun-A, which was damaged in April 2015 during a fire and will be installed in Campeche at a 124 ft. depth. In a press release, McDermott stated this project […]Continue Reading →