This week, Pemex announced that thanks to its 170 producing wells, Ku-Maloob-Zaap is for the third year the NOC’s best producing field, with an average daily production of 865,000 b/d and 349 Mcf of gas in December, a record breaking month for the field in terms of production. However, Pemex might not be quite as [...]Continue Reading →
When Felipe Calderón Hinojosa became President of Mexico in 2006, he appointed Jesús Reyes-Heroles as Pemex CEO. One of the main objectives with the changes made was for the NOC to become more competitive. The strategic decisions made with this idea in mind included fighting for an energy reform that would allow more participation from [...]Continue Reading →
Now that Enrique Peña Nieto has been confirmed as the next Mexican President elect, it seems like a good moment to revisit the question of energy reform, based on conversations conducted with key players in the oil and gas industry over the last few weeks, and see what this means for the upstream sector in [...]Continue Reading →
Earlier this week, Fortune Magazine published its list of the global top 500 companies for 2012. Pemex ranked 34, the highest of any Mexican company on the list. State-owned electric company CFE (Comisión Federal de Electricidad) and América Movil, owned by Mexico’s telecommunications tycoon, Carlos Slim, were the only other two Mexican companies [...]Continue Reading →
More details have been revealed by Pemex regarding the 2nd round of ISCs awarded earlier this week. Pemex reported that 31 companies participated in the bidding process. In the end, the NOC received 28 offers and awarded 4 contracts to the companies that offered the best price and investment conditions.
Pemex explained that the [...]Continue Reading →
On Tuesday, Repsol announced that it would be buying 10% of its own shares back from Sacyr, the Spanish construction company that in August entered into an agreement with Pemex to syndicate their voting rights. The deal brought an end to the agreement between Sacyr and Pemex, following the problems Sacyr had in refinancing its [...]Continue Reading →