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Oil And Gas Monopoly News

06 Apr 2015

Pemex: 2015 Output Unaffected by Platform Blaze

Mexican state oil giant Pemex expects to meet its 2015 output target of 646,000 barrels per day (bpd) for the oil-producing region where a platform exploded last week, killing four people and leaving three more missing, a top executive said on Sunday. The fire broke out on Pemex's Abkatun Permanente processing platform in the oil-rich Bay of Campeche at 3.40 a.m. local time on Wednesday, leading to the evacuation of 302 people. The blaze was not extinguished until 7.30 p.m that evening. Speaking in a televised conference from Ciudad del Carmen, on the Gulf of Mexico, Gustavo Hernandez, Pemex's head of exploration and production, said the incident had led Pemex to shutter production of about 220,000 bpd, with some 170,000 bpd coming back online between Sunday and Monday.

27 Jul 2014

Mexico's Lower House Pass Energy Reform Bills

Committees in Mexico's lower house on Saturday approved laws fleshing out a landmark energy reform that seeks to drive private investment into the long-shuttered sector. The so-called secondary laws, which detail the implementation of the constitutional energy reform passed last year, will head to the floor of the lower house, where lawmakers will debate them beginning on Monday. If they are fully approved in the lower house, some of the secondary laws will head to the Senate for final approval. The laws passed in committees on Saturday create a new tax framework for Pemex, guidelines for contracts and tax benefits for states where extraction occurs, among other things.

08 Jun 2014

Draft Mexican Energy Law For Higher Local Content Level

Mexican Lawmakers aim to set higher than first Planned Minimum requirements for Materials, How much local labor and companies investing in the Oil and Gas Industry must use, According to a Revised Draft of pending Legislation. Mexico 's Congress is in the Process of Approving so-called secondary laws to Implement the Government's December 2013 Energy reform, which the Forms of President Enrique Pena Nieto Cornerstone's Economic Growth Strategy to boost flagging. The laws, which Establish the Fine Print of the reform Ending the Oil and Gas Monopoly Granted to State Oil giant Pemex in 1938, are being Closely watched by Oil Majors Such as BP Plc and Exxon Mobil Corp..

21 Jul 1999

Mexico Probes Pemex Offshore Mega-project

Mexican authorities are reportedly investigating alleged inefficiency and financial irregularities in building a multibillion-dollar offshore project by oil and gas monopoly Petroleos Mexicanos.