All publications by tag «PEMEX»
REUTERS - Mexico’s Pemex produced 1.62 million barrels of crude per day in January, less than any month in almost three decades, the state-owned oil company said on Friday, underscoring the challenges facing a government that vows to pump far more in a few years.
PLATTS - The downward trend in output from Mexico's state oil company Pemex continued in November as oil and gas production fell 2.7% and 2.3% respectively, from the previous month, company data showed Wednesday.
PEMEX - Upon comparing the results of this quarter with the same quarter for the previous year, the following items stand out: (i) total sales increased by 33%; (ii) operation yield recorded a significant improvement of 83% and currently at 54 billion pesos; and (iii) the company recorded a net income of 27 billion pesos, compared to losses of 102 billion pesos recorded the previous year.
PEMEX - Pemex achieved total sales for 254 billion pesos in the second quarter of 2018, a figure 36% higher than the result obtained during the same quarter of the previous year. Operating yields were 120 billion pesos, a growth almost 37% greater than the second quarter of 2017. Operation, management, distribution and sales costs remained stable and aligned with the current austerity and expenditure policies.
Reuters - Mexican national oil company Pemex reported on Friday that September crude production fell 18 percent from the same month last year, marking three consecutive months with oil output coming in below 2 million barrels per day.
The auction of the deepwater blocks, four in the Perdido Fold belt near the US side of the Gulf and six in the unexplored Salina basin further south, marked the culmination of the first round of auctions since Mexico enacted a sweeping reform to open a sector closed to private exploration and production for nearly 80 years.
A particularly important aspect of this consolidation pertains to reforms in PEMEX, the state-owned oil company. Earlier this month, PEMEX released a five-year business plan that aims at turning the company profitable by 2020, through efficiency improvements and a focus on high-return activities.
The two bonds, valued at USD 2 billion each and issued in a financial operation that started early in September, will carry maturities of seven and close to 31 years. They pay yields of 4.62% and 6.75%, respectively, according to Pemex CFO Juan Pablo Newman. Now with greater maturity, Pemex’s repurchased debt, which was due to mature in 2018 and 2019, has reduced the risks of the company’s debt portfolio.
Mexican state oil company Petróleos Mexicanos on Thursday said it recorded an after-tax loss of $4.4 billion in the second quarter, as lower oil prices and output hit sales and hefty exchange losses boosted its financial costs.
The parties discussed the implementation of a joint project, the Amatitlán Block which LUKOIL entered on the terms of a service contract with a 50% interest in July 2015, and the company’s participation in forthcoming bidding rounds. This resolution was positively received by the Government of Mexico.