This afternoon, Nov. 3, 2017, Mexican president Enrique Peña Nieto announced the PEMEX’ “biggest onshore discovery in the last fifteen years.” The light-oil discovery was made in the Veracruz basin 40 kms northeast of Cosamaloapan, Veracruz, and represents 1,500 million bcoe while the field’s estimated reserves 3P are 350 million bcoe.
The Ixachi-1 well […]Continue Reading →
Production of Mexican crude oil reached a record low in September with 1.73 million barrels produced per day, over the course of the month. The last time production was this low was 37 years ago. PEMEX director, González Anaya, blamed the low production data on platform closing during hurricane Harvey and the slow implementation […]Continue Reading →
Mexico’s Energy Reform achieved a milestone this week as Argentina-based Pan American Energy (PAE) started drilling in the Hokchi-2 well on Sunday, the first time a non-PEMEX operator has ever drilled in Mexican waters.
Richard Spies, PAE’s Chief Executive, said that operations in the Tabasco-based block commenced at 1.30am local time on Oct. […]
by Lucy Raitano
It is no surprise that the global drop in oil prices has caused the growth rate of economies around the world to slow down. Between 2014 and 2015, Mexico only grew 2.5%. The most interesting figures, however, come from a breakdown of the country’s growth rates by state. Michoacán, Tabasco, Chiapas, and Campeche, the territory’s […]Continue Reading →
After five years of intense negotiations, the Trans-Pacific Partnership agreement has finally been completed, intertwining economies from the American and Asian continents. The long-awaited agreement comes as part of the efforts by leading countries to devise legal frameworks that will result in further globalization. It was announced on the fifth of October by the Trade […]Continue Reading →
Mexico Oil & Gas Summit 2015 has arrived. Tomorrow, July 22nd, the Mexican oil industry comes together to reflect on its latest milestones, with 400 industry leaders discussing key trends and sharing valuable perspectives. Guests range from industry regulators to executive members of the private sector, with the Salón Independencia the Hotel Sheraton María Isabel in Mexico City will […]Continue Reading →