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We cannot presume to know what Pemex’s expectations were for its third round of ISC contracts, but it’s not entirely unreasonable to assume they were disappointed by the results; after all, Pemex officials were quoted referring to the outcome as an “unforeseen scenario”: Of the six blocks offered, only three were successfully awarded [...]

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On Wednesday this week, Pemex announced the 16 companies pre-qualified to participate in the NOC’s second round of integrated service contracts.  The list of companies includes major oil corporations such as Chevron, Schlumberger, Halliburton and Baker Hughes.  Vitol, Tecpetrol, Pico Oil, Dragados/ATP Oil, Industrial Perforadora de Campeche, Monclova Pirineos Gas, Diavaz/Weatherford, Perfolat/Servicios Asociados [...]

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In the past 10 years, Mexico has become the third most important destination outside of the EU for Spanish investors, with investment totaling US$38 billion. Mexico is the largest export market in Latin America for Spain, as well as its 12th largest consumer, with over €2.8 billion in exported goods in 2010, according to official [...]

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On Monday April 16th, Argentinean President Cristina Fernández de Kirchner announced her government’s intention to seize a majority stake in YPF, the nation’s largest oil company, which is 57% owned by Spain’s Repsol. In response, the Spanish government has said it will defend its national interests, and has threatened retaliation. Although the move was regarded [...]

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Earlier this month, oilfield service companies Petrofac and Schlumberger announced that they had formed a new alliance to provide production related service to national oilfield companies. To hear the names of these two companies in the same sentence is nothing new in Mexico, given that they were the two firms awarded [...]

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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 [...]

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