‘Perfect storm’ causing gasoline shortages in Mexico: analyst

July 7, 2015

7/6/15 via Platts

pemex21Pemex said Monday it has planned “additional volumes of gasoline imports in order to regularize supplies” in several states following what one analyst described as a “perfect storm” of shortages involving red tape and crime.

The state company traditionally prides itself in ensuring supplies of all fuels to industry and consumers. But long lines have formed in recent weeks at the pumps of the service stations that still have gasoline on sale.

The problems have arisen in at least half a dozen states, though not in Mexico City, with its population of 20 million.

Pemex cited several factors for the shortages, including a new billing system that has failed to register the orders made by service stations for new supplies.

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A massive discovery in Mexico could mark the dawn of a new oil boom

June 16, 2015

06/16/15 Business Insider

energy - oil barrelsThe Mexican state-owned oil company Petroleos Mexicanos, or Pemex, says it has discovered one of the most copious group of oil fields in the shallow waters of the Gulf of Mexico, its largest such discovery in five years.

The five fields, situated off the states of Campeche and Tabasco, have total proven, probable, and possible reserves that may be as high as 350 million barrels of crude oil equivalent and could produce as much as 200,000 barrels a day, Pemex CEO Emilio Lozoya told an energy conference in Guadalajara on Wednesday. He called the find an “achievement … of great magnitude.”

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Mexican Crude Bargain Seen Souring in Asia as Impurity Found

April 16, 2015

04/15/15 Bloomberg Business

energy - oil barrelsA few months after snapping up the most heavily discounted Mexican oil in 20 years, Asian refiners are discovering some of these bargains may have been tainted. At least two buyers experienced difficulties in processing Mexican crude because of the chloride content, said people with knowledge of the matter who asked not to be identified because the information is confidential. Petroleos Mexicanos is dealing with Asian clients’ claims that a single light-crude shipment had a high amount of the substance, the state producer known as Pemex said in a statement Tuesday. Buyers in North Asia boosted imports from Mexico as prices for its light oil in February slid to the biggest discount over benchmark grades since at least 1995. Fluctuating quality is a challenge facing refiners in nations such as South Korea that are diversifying crude sources away from Middle East producers amid a global glut. The impurity makes the oil difficult to process, according to industry consultant Vautrain & Co.

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4 dead, 16 hurt in oil platform fire in Gulf of Mexico

April 2, 2015

04/01/2015 USA Today 

AFP/Getty ImagesAt least four people were killed and 16 workers injured when a fire erupted early Wednesday on an oil platform in the Gulf of Mexico belonging to Mexico’s state petroleum giant Pemex, the company said in a statement. The company said one of those who died when the fire broke out at dawn at the Abkatun Permanente platform was a contractor for the Mexican oil services company Cotemar. Pemex said on Twitter that it was using eight firefighting boats to battle the blaze. Two of the injured were in serious condition and 300 workers were evacuated from the Abkatun platform, located in the Campeche Sound, near the coast of the states of Campeche and Tabasco.

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Mexico Crude Output to Fall to 2.29 mn Barrels Per Day in 2015

March 25, 2015

Fox News Latino, 3/25/2015

energy - oil_rigMexican state-owned oil company Petroleos Mexicanos said it expects crude production in 2015 to come in at an average of 2.29 million barrels per day, down from 2.43 million bpd last year, the National Hydrocarbons Commission, or CNH, said.

Natural gas production also will fall this year to 6.36 billion cubic feet per day, compared to 6.53 billion cfd in 2014, the CNH said Tuesday, citing the Pemex Exploration and Production’s Quarterly Operational Program.

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Pemex to Postpone Some Deep-Water Exploration, CEO Says

February 19, 2015

02/18/15 Wall Street Journal 

pemexMexican state-owned oil company Petróleos Mexicanos will likely postpone some unstarted deep-water exploration projects as a result of the drop in oil prices and its recently announced budget cuts, Chief Executive Emilio Lozoya said Wednesday. In an interview with Mexico’s Radio Fórmula, Mr. Lozoya said Pemex is aiming to keep to a minimum the impact the cuts will have on exploration and production. However, some exploration projects in deep waters of the Gulf of Mexico could be delayed, he added. Pemex will make around half of the $8.3 billion in federal government budget cuts this year. The cuts will include delays in a number of refinery upgrades, reductions in spending, and some layoffs.

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Mexico to stop shipping ready-to-use fuel to curb thefts

February 19, 2015

02/17/15 BBC News 

AP

AP

Mexico’s state-owned oil company Pemex has announced it will stop shipping ready-to-use petrol and diesel through its pipelines, in an effort to curb fuel thefts. Pemex says it will use its pipelines across Mexico only for unfinished fuel. That fuel will go through a last phase of mixing when it reaches the company’s storage plants. More than $1bn (£650,000) worth of fuel was stolen by Mexican gangs in 2014, an increase of 70% over the previous year. In a statement, the company warned consumers not to buy illegal fuel tapped from its pipelines as it was likely to damage car engines.

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