Category Archives: Pemex

From the mailbox: Mexico’s plans, and ethanol’s impact

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The following article From the mailbox: Mexico’s plans, and ethanol’s impact was written by John Kingston — George Baker’s long-time colleague — and appeared in his blog posting Sept. 10, 2013 on “The Barrel: Essential Energy on Global Energy”. From my email inbox: two reports from some of the more perceptive people in the industry. Continue Reading

Did Chicontepec auction “fail”?

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During the past week we received a number of calls and emails from journalists who have asked for help in understanding the “failure” of the Chicontepec bid round.  We do not support the narrative of “failure,” as we explained in Market Note 171. The situation of Pemex vis-à-vis the IOCs is very simple: For the Continue Reading

Pemex’s Third Bid Round: Chicontepec

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The Pemex auctions, held in Poza Rica on July 11, 2013, were for six blocks for which 16 companies had qualified as bidders. The outcome of the bidding was unusual in a number of ways: The three largest blocks by 3P reserves did not receive bids. The bids on the other three blocks revealed two Continue Reading

Pemex E&P enters its third round of farm-outs

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Calendar Alert: July 11, 2013 — Pemex to award six blocks in Chicontepec The term “farm-out” (or “farmout”) is used in the oil industry to refer to a contractual relationship by which a holder of mineral rights grants to a third party the right to develop a portion of his acreage in exchange for an Continue Reading

News commentary: OTC 2013 — Day 1

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HOUSTON, May 7, 2013—Every year, in the first week of May, Houston becomes the Party Town of the global oil and gas industry. For the 80,000 people who attend the event, as delegates, speakers and exhibitors, there are invitations to breakfasts, receptions and special events throughout the week. Offshore Technology Conference (OTC) is the premier Continue Reading

News Commentary: Bill Introduced to Approve Transboundary Hydrocarbon Agreement with Mexico

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HOUSTON, APRIL 20, 2013—For the past year and two months, the Obama administration has waited for the right moment to present the framework agreement for the development of cross-border oil reservoirs. The agreement had been negotiated with Mexico during 2010-11 and was signed on February 20, 2012. In December 2012, a report was issued by Continue Reading

Press commentary: The constraints of Mexico’s economic agenda

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In an editorial on the print edition of The NY Times this morning there is an article on “Mexico’s Ambitious Economic Agenda,” and, in passing, notes that Carlos Slim owns about 8% of the Class A shares of The New York Times Company. The editorial states that Mexico’s president “wants to allow the country’s state-owned Continue Reading