Last week brought good news to Mexico’s LNG business as IEnova signed a preliminary agreement with Mitsui, Total and Tokyo Gas to export LNG to global markets. Meanwhile, CFE and PEMEX are called to become the main players of Mexico’s upcoming carbon market and refining and fracking are boosting the global oil and gas […]Continue Reading →
Mexico’s licensing rounds, spearhead of the country’s Energy Reform, provided new life for the oil and gas industries’ upstream and midstream sectors. What of the downstream sector? PEMEX’s role remains preponderant, yet there is confusion about its involvement with this segment in the coming years, as the reform crystallizes and a wide array of […]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 →
Beyond Round One’s delays, the end of 2014 evidenced rugged terrain for the Mexican oil and gas industry. Adapting to the projected standards prescribed by the unprecedented Energy Reform is still far from reaching international best practices. PEMEX is slowly fitting into taking the role as the State’s Productive Enterprise and while it has still […]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 →
One of the most important transactions to the global oil and gas industry took place this past Thursday November 13th: O&G engineering giant Amec decided to take over Foster Wheeler. Now, Amec Foster Wheeler, has combined forces to take on projects in over 50 countries, including Mexico. With a workforce that adds up to 40,000, […]Continue Reading →