Articles tagged pemex

Mexico is unlikely to substantially increase its natural gas production over the next five to six years, according to upstream regulator Comisión Nacional de Hidrocarburos (CNH).

Mexico’s Hydrocarbon Companies Association (AMEXHI) has urged the country’s Senate to expedite the appointment of a new head at upstream regulator Comisión Nacional de Hidrocarburos (CNH).

Executives at Mexico’s national oil company Petróleos Mexicanos (Pemex) said in an earnings call Monday that work toward improving natural gas use and lowering emissions is starting to pay off.

Mexico’s Petróleos Mexicanos (Pemex) had yet another disastrous financial result in the fourth quarter, but executives in a conference call said they were buoyed by upstream results and were planning to spend more this year to get more oil and gas out of the ground.

(Editor’s Note: This story is one in a series providing expert forecasts for the global natural gas and oil markets in 2022. Look for NGI’s extensive coverage of what happened in 2021 and what can be expected in 2022 and beyond in terms of prices, the LNG export markets, ESG, Mexico’s production and project prospects, North American midstream infrastructure plans and exploration and production strategies.)

Mexico’s government is doing all it can to boost the fortunes of troubled state oil and gas giant Petróleos Mexicanos (Pemex), with the Finance Ministry again reducing the firm’s profit-sharing duty and injecting $3.5 billion to reduce debt.

Mexican national oil company Petróleos Mexicanos (Pemex) and Braskem Idesa have reached agreement on an ethane supply deal, bringing to an end a year-long dispute that threatened to shutter the largest petrochemicals operation in Latin America.

Two events in the Gulf of Mexico have dented the latest 2021 supply forecast by the Organization of the Petroleum Exporting Countries (OPEC).

Big fluctuations continued along the Nymex natural gas futures curve early Monday as traders wrestled with hotter shifts in the latest weather models and a step up in production. The September contract, which rolls off the board later this week, settled at $3.945, up 9.4 cents on the day. October also picked up 9.4 cents to hit $3.960.

Mexico’s state oil company Petróleos Mexicanos (Pemex) posted a rare 14 billion-peso ($719 million) profit in the second quarter thanks to higher sales revenue. The oil giant had posted a $2 billion loss in the year-ago quarter.