Exxon, Chevron clear to bid on Mexican shallow-water blocks
Mexico forecasts that the opening of the energy industry will bring in $62.5 billion in private investment by 2018 and increase its annual oil output by 500,000 barrels a day in that time.
View ArticleInvestment into Mexico fell 49 percent last year, hastening need for oil and...
Investment in Mexico should pick up over the next few years as President Enrique Pena Nieto implements constitutional changes adopted in 2013 to end a seven-decade state monopoly on oil and gas, said...
View ArticleReport: How to make business sense of Mexico’s energy reform
Mexico is opening its oil and gas fields to foreign investment for the first time in decades – a potential business bonanza for companies that can navigate the changes.
View ArticleThieves get early access to Colombia’s offshore oil data
The incident comes as state-controlled Ecopetrol SA shifts its exploration focus to fields off the Caribbean coast following onshore drilling failures that have contributed to stagnating output after...
View ArticlePemex reports its largest oil find in 5 years in Gulf of Mexico
The discovery won’t affect Pemex’s output forecast of 2.4 million barrels a day this year though will likely alter the company’s estimate to increase production by 500,000 barrels by 2018, CEO Emilio...
View ArticleEmbattled Houston energy company gets financial lifeline, new partnership
Harvest, a Houston-based company that focuses on exploration in Venezuela and elsewhere, is giving up three of its seven board seats and nearly half of the company to CT Energy in exchange for at least...
View ArticleTexas company to build pipeline to Mexico
Brandon Seale, president of Howard Energy Mexico, said there is “strong interest from Eagle Ford producers” in the pipeline because at present the natural gas they produce must take an indirect route...
View ArticleBidding for Mexico’s Gulf blocks to open Wednesday, with Exxon, Chevron among...
The auction is intended to hand up to 14 offshore Gulf of Mexico blocks to private companies in exchange for a cut of the oil they may find and produce in the regions.
View ArticleOil majors shun Mexico offshore auction as blocks go unsold
Exxon Mobil Corp., Chevron Corp. and Total SA all passed on the first 14 shallow-water oil blocks auctioned by Mexico today in the country’s first-ever sale of territory in the Gulf of Mexico. Only one...
View ArticleMexico’s only oil winners backed by Riverstone, BlackRock
Sierra Oil & Gas, poised to become Mexico’s first private crude producer in seven decades, has never drilled a well.
View ArticleMexico’s failed first round of bidding an important lesson, energy panel says
In testimony Thursday before the Western Hemisphere subcommittee of House Committee on Foreign affairs, a panel of four experts on Mexico's energy reform unequivocally called Mexico's first tender a...
View ArticlePemex reports 11th straight loss
Pemex’s earnings were crimped after U.S. benchmark oil prices fell an average 44 percent from 2014 and production slid following three offshore accidents in as many months.
View ArticleVenezuela’s giant lake of endless oil is a filthy, lawless mess
For nearly a century, the petroleum deposits beneath giant Lake Maracaibo served as a cash cow for successive Venezuelan governments. In return, it has received little back but neglect.
View ArticleExxon’s $40 billion oil discovery sparks Venezuelan feud with Guyana
In May, Exxon Mobil Corp. revealed that under contract from Guyana it had found massive offshore oil and gas deposits. Chavez’s successor, Nicolas Maduro, demanded that the drilling stop because the...
View ArticleCash-strapped Venezuela may sell off gold, Citigroup says
Venezuela gets more than 95 percent of its export revenue from oil, and the slump in crude prices has stoked concern that the nation may face difficulties paying debt.
View ArticleAnalysts: Little hope for more oil exports despite Mexico crude swaps
Market watchers say the largest impact of the decision could be its symbolic value, cementing a crack in the long-standing crude oil export ban that U.S. oil can flow through.
View ArticleCrude retracing after a rampant rally
On this final Friday in August, the crude complex is looking lower into the weekend after yesterday’s nutty 10% rally. The rollercoaster ride across financial markets continues apace, with Chinese...
View ArticleCommentary: China & commodities send Brazilian economy tumbling
According to a recent Gallup survey, the most positive people in the world are in Latin America. But given recent events in global financial markets, I suspect this upbeat attitude is being severely...
View ArticleIran says Mexico to help if OPEC tries to manage oil market
The Latin American nation isn’t a member of the Organization of Petroleum Exporting Countries, though it has cooperated with OPEC before by cutting output in efforts to buttress prices.
View ArticleMexico tries again to attract private oil investment
Mexico is trying to make its second lease auction more successful than the first as it strives to overhaul its energy sector.
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