Adriana's Feed
Mar 3, 2015

Mexico improves contract terms to lure oil investment

MEXICO CITY (Reuters) – Mexico will give oil companies a bigger share of profits and more flexibility in contracts as it opens up its energy sector, the country’s top oil regulator said in an interview, after a host of companies said the initial terms would deter them.

Changes to draft production-sharing contracts for shallow water extraction projects will relax rigid investment requirements and clarify how contracts could be revoked, said Juan Carlos Zepeda, head of Mexico’s national hydrocarbons commission.

Feb 28, 2015

Mexico OKs 5 shallow water areas in Round One oil tender second leg

MEXICO CITY, Feb 27 (Reuters) – Mexico has approved draft
auction terms for five shallow water areas containing around 355
million barrels of oil equivalent (boe) as part of its Round One
tender opening up oil fields to foreign investors, the country’s
energy regulator said on Friday.

The areas, located in the southern Gulf of Mexico, are
divided into nine production-sharing contracts which will be
awarded to companies or consortia by late September.

Feb 27, 2015

Mexico OKs 5 shallow water areas in Round One oil tender

MEXICO CITY, Feb 27 (Reuters) – Mexico has approved the
auction terms for five shallow water areas containing around 355
million barrels of oil equivalent as part of its Round One
tender opening up oil fields to foreign investors, the country’s
energy regulator said on Friday.

Round One includes several fields grouped by basin, with
the first batch of 14 contracts approved in mid-December.

Jan 16, 2015

Mexico says oil slump may hit tenders, public spending

MEXICO CITY, Jan 15 (Reuters) – Mexico said on Thursday that
tenders for the exploration and production of shale and other
more expensive oil and gas deposits could happen later than
planned because of the slump in oil prices, which could also
hurt government spending in 2016.

The tender for Mexico’s first round of contracts under an
historic energy sector opening is already underway and includes
several packages of fields grouped by type of basin.

Dec 12, 2014

Mexico limits shallow-water bids in oil sector opening

MEXICO CITY, Dec 11 (Reuters) – Mexico said on Thursday it
would cap the number of shallow-water projects companies can bid
for as it set out initial contracts for the historic opening of
its oil and gas industry, but did not specify the share the
government will take.

Following a reform that ended Mexico’s 75-year state
monopoly, officials unveiled details of the first
production-sharing contracts to an audience that included
executives from Chevron Corp and Exxon Mobil Corp
.

Dec 11, 2014

Mexico limits shallow-water bids in energy opening, no word on tax

MEXICO CITY, Dec 11 (Reuters) – Mexico said on Thursday it
would cap the number of shallow water contracts companies can
bid for as it outlined the tender for the first leg of the
country’s energy sector opening, but gave on word on how much
tax the government will take.

Following a sweeping energy reform that ended a 75-year
state monopoly, Mexico’s National Hydrocarbons Commission (NHC)
on Thursday revealed key details of the process to a packed
audience including executives from Chevron Corp, Exxon
Mobil Corp and Ecopetrol SA.

Dec 10, 2014

First Mexican shallow-water oil and gas contracts seen by mid-July

MEXICO CITY, Dec 10 (Reuters) – Mexico’s initial
shallow-water oil and gas contracts will offer companies a share
of output with average production costs estimated at about $20
per barrel, the National Hydrocarbons Commission said on
Wednesday.

The tenders mark one of the first concrete steps stemming
from a historic energy reform finalized this year that ended the
decades-long monopoly enjoyed by state-owned oil company Pemex
across a wide range of oil and gas activities.

Dec 2, 2014

Low oil price won’t deter Chevron from new projects in Mexico

MEXICO CITY (Reuters) – Slumping international crude oil prices will not play a major role for U.S. oil major Chevron Corp as it determines future investment opportunities in Mexico’s newly opened energy sector, a top company executive said on Monday.

Crude oil markets have in recent days been hovering near five-year lows, with benchmark Brent crude dipping below the $70 per barrel level on Monday before recovering slightly.

Nov 25, 2014

Exclusive: Pemex to process less oil in 2015 due to refinery maintenance

MEXICO CITY (Reuters) – Refineries owned by Mexico’s state-run oil company Pemex will process 4 percent less crude oil in 2015 compared to this year’s forecast due to planned maintenance peaking in April and August, according to company plans seen by Reuters.

The lowest anticipated runs since 2011 may require Pemex to import more gasoline and diesel, demand for which is rising as the economy grows and the nation’s aging refinery fleet struggles to cope with its mostly heavy slate of Mexican crude, which is more difficult to process into higher-value fuels.

Nov 11, 2014

Shell says most focused on deep water oil projects in Mexico

MEXICO CITY (Reuters) – Royal Dutch Shell, one of the world’s largest oil companies, is most interested in new oil and gas projects in the deep waters of the Gulf of Mexico following a major sector opening finalized earlier this year, a top executive said on Tuesday.

In the near term, Shell is eying potential deep water tie-ups with Mexican oil company Pemex in the Trion and Exploratus fields located within the Perdido Fold Belt, which straddles the U.S.-Mexico maritime border in the Gulf.