Mexico’s state-owned oil company PEMEX’s requested and was denied a request to migrate its huge Ku-Maloob-Zaap asset to a single Exploration and Extraction Contract without a partner, in a move that could have lowered the tax burden attached to the Gulf of Mexico field, media reports said.
The proposal, presented to CNH by SENER, was […]Continue Reading →
Mexico’s state-owned oil company PEMEX cut direct awarding practices, long blamed for inefficiencies in the firm’s performance, to 30 percent in 2016 from 80 percent the year before as it puts to work deep changes in its procurement function such as the new Electronic Awarding System and the adoption of best international practices under Director […]Continue Reading →
Mexico’s energy, safety and environmental regulator ASEA has published a long-awaited framework for industrial, operational and environment safety in the exploration and extraction of hydrocarbons, the state agency said in a press release on Wednesday.
“These are cutting edge, robust and consistent rules, formed on the principle of risk-based regulation” [MA1] said Carlos de Regules, ASEA’s Executive […]Continue Reading →
Mexico is set to receive a windfall of US$2.9 billion from its oil hedges for 2016, according to data from an International Monetary Fund report. A second year of plummeting crude prices mean the put option the country invested in will pay off again.
In the past decade, Mexico has averaged almost US$1 billion a […]Continue Reading →
Canadian company International Frontier (IFR) has announced that its Mexican partner Tonalli Energía identified higher than expected targets for the Tecolutla Block, which it won in the third phase of Mexico’s first licencing round.
The Canadian firm said in a press release on Monday that “significantly higher and thicker” areas of the onshore reservoir have […]Continue Reading →
Editor’s Note: This post, originally published November 9, has been updated with new information.
The Energy Ministry announced on Monday the third bidding round for hydrocarbons in Mexico. The R02-L03 will encompass 14 contracting onshore areas, of which 10 correspond to oil fields and four to natural gas fields.
The fields […]Continue Reading →