Pemex Reaches Deal to See if Talos Find Reaches Its Block
Mexican state oil firm Pemex has reached a preliminary agreement with a consortium led by Talos Energy to evaluate whether the group's find in the Gulf of Mexico extends into a neighboring Pemex block, the companies said in a statement on Thursday.The deal, which covers territory in the shallow waters of the Gulf of Mexico, is the first of its kind for Pemex and will be in force for two years.The Talos consortium, which includes Britain's Premier Oil and Mexico's Sierra Oil & Gas, won development rights for two blocks during the first oil auction launched by President Enrique Pena Nieto.
Eni to Invest $1.8 Bln in Offshore Mexican Oil Fields by 2040
Italian oil major expects to invest $1.795 billion in three offshore Mexican oil fields by 2040, according to a development plan approved by Mexico's oil regulator on Tuesday.The plan covering the Amoca, Mizton and Tecoalli shallow water fields is the second one approved by the regulator, known as the National Hydrocarbons Commission (CNH), following a landmark 2013 energy opening that has led to more than 100 oil and gas contracts being awarded in a series of auctions.Eni sees initial crude oil production of 8…
BHP Billiton, Pemex sign Trion Contract
BHP Billiton has advanced its exploration and production interests in the Gulf of Mexico by executing a contract with PEMEX Exploration & Production Mexico (Pemex) to complete work on the significant Trion discovery in Mexico. In December 2016, BHP Billiton successfully bid on the resource that, once fully appraised, is expected to be in the top 10 fields discovered in the Gulf of Mexico in the last decade. The agreement includes a commitment to deliver a Minimum Work Program, which consists of drilling one appraisal well, one exploration well and the acquisition of additional seismic data.
Pemex Says Port Accident Injures 17 Workers
Mexican national oil company Pemex said on Wednesday that an accident at a terminal near the Gulf coast port city of Tampico has injured 17 workers, but none were badly hurt. The company said in a post on its Twitter page that all the workers were receiving medical treatment following the accident at the Madero terminal, which processes both crude oil and other petroleum products. (Reporting by David Alire Garcia)
Pemex Approves New Deep Water Gulf Joint Venture
The board of Mexico's state-owned oil company Pemex on Thursday approved its second-ever deep water joint venture covering the Nobilis-Maximino block in the country's territorial Gulf waters. Reuters revealed details of the plan last week. (Reporting by David Alire Garcia)
Tropical Storm Beatriz Bears Down on Mexican Coast
Tropical Storm Beatriz approached Mexico's Pacific coast on Thursday, the U.S. National Hurricane Center said, dumping heavy rains that resulted in at least two deaths, caused landslides and forced road closures and flight cancellations. The emergency services in the southwestern state of Oaxaca said a landslide in the village of San Marcial Ozolotepec buried some houses and rescuers had found one dead boy, while one more was missing. Another woman was killed by a landslide in the village of San Carlos Yautepec, the emergency services added.
Pemex Boosts Crude Shipments to Japan
Mexico's state-run oil company Pemex will increase crude exports to Japan in the coming months after selling several spot cargoes to customers including Cosmo Oil, JX Holdings and TonenGeneral, according to a company source and Thomson Reuters trade flows data. Pemex typically sends around 1 million barrels per month of Maya crude to Cosmo Oil under a supply agreement, but the company recently negotiated additional deliveries, the source said. The cargoes of Maya and Isthmus crudes will arrive in Japan from May through June after loading at Mexico's Dos Bocas and Salina Cruz terminals, according to Thomson Reuters data. Mexico's crude exports have fallen in recent months amid declining oil output.
Mexico's Pemex Sees Restart of Salina Cruz Refinery
Mexican state oil producer Pemex said on Thursday that it expects to restart operations on July 30 at Salina Cruz, its largest oil refinery, after it was hit last week hit by flooding and subsequent fire that forced a shutdown of the plant. The program contemplates three-way actions: Restarting operations; cleaning and rehabilitation of the affected site and general maintenance, taking advantage of the shutdown of the process. This last activity would allow for the advancement of the maintenance that was scheduled for next April…
Dora Could Reach Hurricane Strength Today
Tropical Storm Dora, located off the western coast of Mexico in the Pacific Ocean, is strengthening quickly and is expected to become a hurricane on Monday, the U.S. National Hurricane Center (NHC) said on Sunday. Maximum sustained winds were about 70 miles per hour (110 km per hour), with higher gusts. Dora was strengthening quickly and was forecast to become a hurricane on Monday, the NHC said in its latest advisory late on Sunday night. The NHC warned of possible heavy rains along the southwestern coast of Mexico but added that the center of the storm was expected to move parallel to the coast of Mexico but remain offshore. It said no coastal watches or warnings were in effect.
Exxon, Total, Chevron in Talks With Pemex on Gulf
Oil majors are in talks with Mexico’s state-owned Petroleos Mexicanos (Pemex) as the struggling state-run oil producer seeks partners to develop deepwater crude in the Gulf of Mexico, reports Bloomberg. Petroleos Mexicanos is in talks with Exxon Mobil Corp., Total SA and Chevron Corp. as Mexico’s struggling state-run oil producer seeks partners to develop deepwater crude in the Gulf of Mexico. Pemex seeks Areas of Mutual Interest agreements to evaluate whether the companies have opportunities to work together in offshore areas.
Traders Scramble to Avert Regional Fuel Shortages
Mexico buys gasoline from Europe, Asia; in rare move, Europe exports diesel to Brazil. The crippling of the U.S. Gulf Coast refining hub by Tropical Storm Harvey roiled global oil markets on Thursday as traders scrambled to buy gasoline and diesel from distant markets to avert supply shortages in the United States, Mexico and Brazil. A slew of gasoline tankers has been booked over the past two days out of Europe to the United States and Latin America, with around 12.5 million barrels expected to leave the region in the first half of the month…
Pemex: Harvey Caused Crude Oil Shipment Delays
Mexican national oil company Pemex said on Tuesday that Hurricane Harvey forced the cancellation of several crude oil export shipments. Due to the damage inflicted by Harvey on the U.S. Gulf coast refining center, Pemex arranged for alternative gasoline and diesel cargos from suppliers elsewhere, the company said in a statement. The company also moved up maintenance plans for its Ku-Maloob-Zaap field, its biggest producer, located in shallow waters of the Bay of Campeche. The maintenance will be conducted from this week through Sept. 11, which will cause production to temporarily dip by some 330,000 barrels per day (bpd). But Pemex said the maintenance plans are not expected to impact the company's production forecast for this year.
US Fuel Exports Recover after Harvey
Fuel exports from the U.S. Gulf Coast are rising rapidly as refineries recover from weeks of disruptions due to Hurricane Harvey, offering respite to buyers in Latin America and Europe. The gradual resumption of operations in the region that has become a major oil export hub has prompted a drop in benchmark gasoline and diesel refining margins on both sides of the Atlantic. Margins measure the profit from converting crude into fuels. Mexico's state-run oil company Pemex bought gasoline cargoes from the U.S. Gulf Coast this week, according to shipping data, after sourcing dozens of cargoes from Europe, the Middle East and Asia through the month. Mexico, which relies on imports for half of its gasoline consumption, typically buys two cargoes of the road fuel per day, mostly from the U.S.
Storm Earl lashes Belize, Heads for Mexico
Tropical storm Earl whipped Belize with wind and heavy rain as it weakened, moving into Guatemala toward southeastern Mexico on Thursday after hundreds of people took shelter overnight. The U.S. National Hurricane Center (NHC) said at 1200 GMT that Earl had maximum sustained winds of 65 miles per hour (105 km per hour) as it churned about 90 miles (145 km) west of Belize City. Earl had been a hurricane overnight. Late Wednesday, over 1,000 people were in shelters in Belize City, according to Philip Willoughby, who is in charge of the city's emergency management. Dozens of people were also evacuated in Honduras on Wednesday, the government said. As it moves west, Earl is expected to weaken to a tropical depression later Thursday or by Friday morning, the NHC said.
Tropical Storm Earl moves inland over southeastern Mexico
Tropical Storm Earl moved inland early on Saturday over southeastern Mexico where torrential rains could produce deadly flash floods and mudslides, the U.S. National Hurricane Center said. The storm with winds of 50 mph (80 kmh) was about 30 miles (50 km) southwest of Veracruz, Mexico as it headed west at 9 mph (15 km), the Miami-based center said in an advisory late on Friday night. The center said Earl would weaken as it moved inland throughout the day on Saturday, but could…
Petrobras to join Oil and Gas Climate Initiative (OGCI)
Petróleo Brasileiro SA (Petrobras) has announced its intention to join the Oil and Gas Climate Initiative (OGCI). The company revealed that its CEO, Pedro Parente, has signed a letter of engagement so that the company can become an effective member of the voluntary initiative, which aims to lead the industry response to climate change. The OGCI is the CEO-led grouping of oil and gas companies that intends to lead the industry’s response to climate change, pooling knowledge and collaborating on action to reduce greenhouse emissions.
Fire on Pemex Tanker in Gulf of Mexico
A fire broke out on an oil tanker of Mexican state oil company Pemex in the Gulf of Mexico on Saturday, forcing all the crew to be evacuated in the latest accident to plague the struggling firm. The blaze on the tanker "Burgos" occurred off the coast of Boca del Rio in Veracruz state and all the crew were safe, Pemex said in a tweet. Mexico's Navy said there were 31 crew members and that all had returned to port. Images tweeted by Pemex showed the vessel giving off plumes of smoke as another boat hosed the tanker. Early on Saturday evening, Pemex said that firefighting teams were still working to put out the blaze. The tanker was carrying 80,000 barrels of diesel and 70,000 barrels of gasoline, Mexicos Communications and Transport Ministry said.
Mexico's Oil Reform a Boon for Hard-hit Oil Service, Seismic Firms
Oil service and mapping firms still emerging from an industry recession have received a boost from about $800 million of data sales to energy firms considering bidding for Mexican oil and gas blocks. Mexico will on Wednesday hold its most important auction since a 2013 reform ended the 75-year monopoly on the energy sector held by state-run oil firm Pemex. The government of President Enrique Pena Nieto hopes the deepwater sale will attract tens of billions of dollars of investment to turnaround a slump in the country's oil output. Seven previous auctions drew investment pledges of $61 billion.
Sea Trucks Awarded Contract in Mexico
Sea Trucks Group has secured a charter for the Jascon 31 from Permaducto S.A. de C.V. (Protexa) for the provision of Accommodation and Heavy Lift services in the Gulf of Mexico. Sea Trucks will provide accommodation and lifting services in support of repair works at Pemex Line 221 at the Abkatun-A Platform in the Abkatun field in the Gulf of Mexico for a period of 50 days. After completion Sea Trucks will provide similar services at Pemex Lines 63a and 65 in the Ku-Maloob-Zaap Field for a period of 42 days plus options.
Troll Solution Wreck Removal Completed
A stricken jack-up has been removed from the Mexican seabed in close proximity to a well head platform, making for the largest wreck removal project completed in 2016. Weighing approximately 7,000 tons, the jack-up Troll Solution, contracted to operate in Pemex's Abkatun-Pol-Chuc shallow water oil field, experienced a debilitating accident while carrying out maintenance work on the wellhead platform CAAN-A in May 2015. The offshore rig was positioning itself to carry out maintenance on wells linked to the Caan Alf platform in the southern Bay of Campeche when it listed, killing two workers.
Reforma Pemex Now Under BSM Management
Following a two-year period of plan approval and newbuild supervision services provided by Bernhard Schulte Shipmanagement’s project focused business, Schulte Marine Concept, BSM's Mexico based Ship Management Centre has commenced management of Reforma Pemex, the first of two offshore ‘flotel’ accommodation vessels owned by Petroleos Mexicanos International (PMI) and chartered to the Mexican National Oil Company Petroleos Mexicanos (PEMEX). Commencing operations from the beginning of January 2017…
Conquest Offshore Partakes in Troll Solution Wreck Removal
Conquest Offshore’s MB-1 heavy lift barge was the key asset in the largest wreck removal recorded in 2016. Conquest MB-1 removed the Troll Solution jack-up rig from the seabed 30 meters deep of the Bay of Campeche, Mexico. The accident occurred back in May 2015 when the Troll Solution tilted during the positioning to carry out maintenance work related to the Caan Alf production platform, operated by PEMEX, Mexico’s National Oil Company. The jack-up tilted due to a fault in one of its legs, causing it to sink into the seabed, according to local sources.
U.S. Refiners Cash in on Mexico's Record Imports
U.S. Gulf Coast refiners are cashing in on rising fuel demand from Mexico, shipping record volumes to a southern neighbor that has failed to expand its refining network to supply a fast-growing economy. The fuel trade could top a million barrels per day (bpd) at times in 2017 as Mexico becomes increasingly dependent on the United States for strategic energy supplies and providing business worth more than $15 billion a year to refiners such as Valero, Marathon Petroleum and Citgo Petroleum.