The federal government’s decision to cut its public expenditure for 2015 by 2.65%, or MX$124 billion, would not be a major problem if half that cut did not come out of the budget of the national oil company, PEMEX. This amount represents 10.4% of the MX$594.6 billion total expenditure PEMEX […]Continue Reading →
Commissioned by PEMEX, the 2015 Pan American Mature Fields Congress is a unique gathering of experts and engineers from all corners of the Americas that will focus on optimizing recovery from mature fields.
Mature fields account for over 70% of global production. With average recovery factors of 70% for gas and 35% for […]Continue Reading →
The situation as it stands in Mexico today is that PEMEX refineries are unable to return to the levels of efficiency and production they saw 10 years ago when they averaged 303,400 million barrels per day of refined hydrocarbons.
During 2014, PEMEX about 35% of the distillation capacity of Mexico went unused, mainly […]Continue Reading →
The last quarter of the year seems to evidence the exhaustion of a PEMEX model that no longer holds itself, no matter which angle it is looked at. The fact that the price of Mexican crude oil has dropped below the barrier of US$50 per barrel is just another factor of concern for the […]Continue Reading →
Change is on the horizon according to PEMEX’s latest news; a transformational step that aims to boost efficiency and maximize profitability. Its Administrative Council has just approved the company’s corporate restructuring this week enabling it to reach new markets and become what Emilio Lozoya calls a stronger and bolder PEMEX. Following this paradigm shift to […]Continue Reading →
The hype surrounding the release of the exploration areas and production fields in Mexico’s hydrocarbon assets that will be available for the private sector to bid has finally simmered to a reality. The general terms that will be applicable to all contracts were just released by SENER this week and even though Round One’s first set […]Continue Reading →