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On March 18th 1938, Mexican president Lazaro Cardenas began the process of nationalizing all oil reserves, resources and facilities. Although this historic event is now perceived as an indispensable starting point for the modernization of post-revolutionary Mexico, it was at the time a culmination of over ten years of strikes and labor disputes between unyielding [...]

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Last Wednesday, amidst the rumors about a new deepwater oil discovery, Pemex came out with an official announcement through the media: the ‘Exploratus-1′ well has struck oil – light crude, to be specific. After several reports leaked information on the oil discovery during Monday and Tuesday, Carlos Morales Gil, Director General at Pemex E&P came [...]

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Five Facts about Lukoil

On January 29, 2014 By

Last week, at the 2014 World Economic Forum Annual Meeting in Davos, Switzerland, Mexican President Enrique Peña Nieto and certain key members of his cabinet were kept busy by a series of treaties and cooperation agreements that Mexico signed with various states and companies. In total, Mexico managed to lock down over US$7.3 [...]

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The necessary number of local congresses has ratified the energy reform only a little over three days after being approved in the Lower House. This unusual demonstration of consistent legislative expediency from the part of Mexican representatives all over the country is sure to inform the suspicions of many members of the opposition [...]

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 It has been over six months since the basement of Pemex Tower B2 was torn apart by a ball of fire that ended the life of thirty-seven people and injured over a hundred and twenty. What was once surrounded by mystery and speculation (the basement housed a part of Pemex’s archives) has now [...]

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Pemex just announced its financial results for the second quarter of 2013. As it has been widely reported throughout the day, the news was not good: the NOC reported losses of US$3.8 billion, the highest since the third quarter of 2011. Most of these losses were generated by a steady decline in crude [...]

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