Mexico News

 

BHP Approves Funding for BP-led GoM Project

Feb 13, 2019

BHP Group, the world's largest miner, said on Wednesday its board has approved $696 million in funding to expand production at the BP PLC-led Atlantis oil project in the U.S. Gulf of Mexico.The move comes about a month after London-listed oil…

Occidental Petroleum Profit Jumps

Feb 12, 2019

Occidental Petroleum Corp on Tuesday reported a quarterly profit that beat analysts' estimates, helped by a surge in Permian basin production and higher realized prices for its crude.Production from its Permian resources unit rose 57 percent to 250…

Phillips 66, Kinder Announce Gray Oak Pipeline Deliveries to Houston

Feb 11, 2019

Phillips 66 and Kinder Morgan Inc began on Monday soliciting shipper commitments for crude deliveries on the 900,000 barrel per day (bpd) Gray Oak Pipeline from the Permian Basin to delivery points at or near the Houston Ship Channel, the companies said…

Giza and Fayoum Gas Fields Come Onstream

Feb 11, 2019

BP on Monday announced first gas production from the second stage of its West Nile Delta development offshore Egypt, marking the second start-up in a string of new upstream projects expected to be brought on line by the supermajor in 2019.The project…

BP's 2018 Profit Doubles as Output Soars

Feb 05, 2019

BP's profit doubled to $12.7 billion in 2018, driven by strong growth in oil and gas output following the acquisition of a large portfolio of U.S. shale assets.The company's debt rose however, and the pace of its share buyback scheme slowed in the last quarter as it completed the $10…

Tankers with Venezuelan Oil Collect off US

Feb 04, 2019

A flotilla loaded with about 7 million barrels of Venezuelan oil has formed in the Gulf of Mexico, some holding cargoes bought ahead of the latest U.S. sanctions on Venezuela and others whose buyers are weighing who to pay, according to traders…

Deepwater Oil Output to Reach 10 mb/d in 2019

Feb 01, 2019

Global deepwater oil production was expected to grow 700,000 barrels  per day (b/d) this year to hit a record high of more than 10 million b/d.Norwegian research group Rystad Energy said that it 'expects global deepwater production to reach record high level and surpass 10 million bb/d…

US Shale Lifts Exxon, Chevron Profits

Feb 01, 2019

Exxon Mobil Corp and Chevron Corp, two of the world's largest oil producers, on Friday posted improved quarterly earnings that benefited from double-digit percentage increases in production from the top U.S. shale field.Shares of both companies rose about 3 percent…

Sapura Energy, OMV Partner for E&P

Feb 01, 2019

Malaysia’s largest oil and gas services company Sapura Energy Berhad and Austria’s OMV Aktiengesellschaft have agreed to form a new strategic partnership that will see the creation of a new joint venture independent oil and gas company.OMV Exploration & Production GmbH…

Hess Production Tops Estimates

Jan 30, 2019

Oil and gas producer Hess Corp's fourth-quarter production beat Wall Street estimates on Wednesday, driven by higher output from the Bakken shale region and the Gulf of Mexico.Total production for the quarter ended Dec. 31, excluding its Libyan operations…

Total Plans Biggest Exploration Drive in Years

Jan 29, 2019

Total is launching its biggest exploration campaign for years in 2019 as part of a turnaround plan that is ditching the company's focus on risky long-shots in favor of areas known to contain commercial levels of oil or gas.The French major aims to drill 23 wells this year…

Exxon Green Lights Mega Refinery Expansion

Jan 29, 2019

Exxon Mobil Corp has given final approval to an expansion that would nearly double the size of its 365,000 barrel-per-day (bpd) Beaumont, Texas, refinery, making it the largest in the United States, said two people familiar with the company's plans…

Mexico Working to Strengthen Pemex Finances

Jan 29, 2019

Mexico's finance ministry said on Monday that it will implement measures to strengthen the finances and boost the production of state oil firm Pemex, specifically by increasing the limit on deductions for costs related to extraction and exploration…

Glengorm Discovery Highlights UKCS Potential

Jan 29, 2019

CNOOC announced Tuesday it has made a significant discovery on the Glengorm prospect, located in the Central North Sea of the U.K. continental shelf (UKCS), with recoverable resources estimated at close to 250 million barrels of oil equivalent…

Talos Comes Up Big Offshore Mexico

Jan 24, 2019

An appraisal well in the Zama project offshore Mexico showed more potential for oil, raising hopes of a large discovery, operator Talos Energy said on Thursday.The Zama project in Block 7 offshore Mexico is operated by Talos, whose partners include Sierra Oil and Gas and Premier Oil…

Current News

Asia Pacific’s Decarbonization Bill to Hit $3.5 Trillion in 2040

Asia Pacific’s Decarbonization Bill to Hit $3.5 Trillion in 2040

China Expects Balanced Energy Supply/Demand

China Expects Balanced Energy Supply/Demand

India to Invite Foreign Investment in State-owned Oil Companies

India to Invite Foreign Investment in State-owned Oil Companies

Southeast Asia Bullish on OFS Market

Southeast Asia Bullish on OFS Market

BMT Delivers Real Time Monitoring for Helang FPSO

BMT Delivers Real Time Monitoring for Helang FPSO

Saipem Inks Deal with Daewoo for Onshore Projects

Saipem Inks Deal with Daewoo for Onshore Projects

Indonesia Inks 20-year PSC for Corridor Block

Indonesia Inks 20-year PSC for Corridor Block

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