Mexico Seeks to Export Flagship Maya Crude to U.S. West Coast

12/11/16 Bloomberg

energy - oil_rigMexico is targeting U.S. West Coast refineries to boost sales of its flagship Maya crude amid a global oil glut.

While Mexico has been a regular supplier of Maya oil to U.S. Gulf Coast refineries, it hasn’t shipped any to the West Coast since February 2008, according to data from the U.S. Energy Information Administration. California refineries such as Valero Energy Corp.’s Benicia, Chevron Corp.’s El Segundo and Phillips 66 used to be big buyers of the grade.

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Bidders given extra week to comment on Mexico deep-water oil venture

03/10/16 Reuters

13391132434_62669b1ed7_o.jpgMexico’s oil regulator on Monday gave oil companies an extra week to submit comments and questions about the country’s first-ever deep water joint venture covering state oil company Pemex’s Trion field.

Potential bidders will now be able to submit comments through Oct. 10, the regulator, known as the CNH, said.

The CNH also approved a week-long extension on the final publication of clarifications to the joint operating agreement between Pemex and its future partner to Oct. 14.

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Mexico Extinguishes Fuel Tanker Fire Off Gulf Coast

09/25/16 The New York Times 

MEXICO CITY — Firefighting crews extinguished a fire aboard a fuel tanker belonging to the Mexican state oil company, Pemex, late Sunday afternoon, about 30 hours after an explosion sent flames billowing into the air off the Gulf Coast port of Veracruz.

Pemex said all 31 crew members aboard the tanker, the Burgos, were safely evacuated.

The tanker was carrying 80,000 barrels of diesel fuel and 70,000 barrels of gasoline, but officials said the boat’s double hull reduced the risk of a spill.

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Mexico unveils new oil finds

09/14/16 UPI

energy - oil pumpsMEXICO CITY, Sept. 14 (UPI) — New discoveries made off the eastern coast of Mexico have the potential to produce more than 20,000 barrels of oil per day, the state energy company said.

Mexican state oil company Petróleos Mexicanos said it made two oil discoveries in the deep waters of its territory of the Gulf of Mexico and four in the shallow waters, which could combine for a potential production rate of around 22,000 barrels of oil per day. All told, the discoveries contain, at the high end, an estimated 200 million barrels of oil equivalent.

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Shell becomes first oil company to join Mexico’s hedging program: Bloomberg

09/01/16 Reuters

shell by Azfar Hakim
Photo by Flickr user Azfar Hakim

Royal Dutch Shell Plc participated in Mexico’s oil hedging program for 2017, the first time an oil company has taken part in the world’s large commodities hedging program, according to Bloomberg, citing four people with knowledge of the matter.

Shell’s trading unit was one of the seven counterparties to the Mexican government, the report said, adding that their involvement is the first known participation since Mexico started to lock in prices regularly 15 years ago.

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Mexico to ban gasoline oxygenated with ethanol in three urban centers

08/24/16 Reuters

Mexico-pollutionMexico will ban the sale of gasoline oxygenated with ethanol beginning in late October in three major urban centers as part of a push to combat the worst pollution in over a decade due to high concentrations of ozone in the atmosphere, government officials say.

While Mexico opened to the door to such imports in April, such a blend of ethanol and gasoline is not yet present in the Mexican market. State oil company Pemex says it neither produces nor imports gasoline oxygenated with ethanol.


Mexico Oil Regulators Approve Bidding Process for 12 Exploration Blocks

08/23/16 The Wall Street Journal

oil wellMEXICO CITY—Mexican oil regulators on Tuesday approved a bidding process for a dozen exploration and production areas containing mostly natural gas, the sixth auction since the country opened the industry to private and foreign investment.

The auction includes 12 onshore blocks, nine in the Burgos basin of northern Mexico and three in the south of the country. Contracts are for 30 to 40 years, including exploration, development and production periods.

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