Mexico Leads Decline in Oil Production Globally
According to the IEA’s “Oil 2024, Analysis and Forecast to 2040” report, Pemex has only produced an average of 1.5 million barrels of oil per day since February 2024
Read moreTag Archives: petroleum
Pemex Slashes Crude Oil Exports in Favor of Gas Production
The move comes as the price of crude oil is projected to increase to $88 per barrel in 2024
Read moreIn Search of a Stronger, More Unified North America
OPINION By ERIC FARNSWORTH and EARL ANTHONY WAYNE North America was trending in the midterm elections, although you may have missed it. Think about the top campaign issues in races across the country: economic recovery and job creation, inflation, the price of gasoline, immigration, border security, increasing crime and suffering in communities devastated by fentanyl and other drugs. With the
Read moreMexico Continually Fails to Meet Oil Performance Goals
By KELIN DILLON As Mexico continues to put focus on its home-grown oil assets as part of President Andrés Manuel López Obrador’s (AMLO) initiative for the nation’s energy self-sufficiency, which has included investments such as the costly construction of the Dos Bocas crude oil refinery in Tabasco, Mexico continues to move away from meeting its annual oil production goals —
Read morePemex Drops Four Places on the Oil & Gas 50
By KELIN DILLON In the recently released 2022 edition of Brand Finance’s Oil & Gas 50, Mexico’s state-owned oil company Petróleos Mexicanos (Pemex) fell from 16th to 20th place in the rankings of the world’s 50 largest oil companies. The drop stems from Pemex’s 6 percent reduction in valuation from 2021 to 2022; while the Pemex brand was valued at
Read moreMexico News Roundup
By RICARDO CASTILLO New Mexican Tourist Resort Mexican President Andrés Manuel López Obrador (AMLO) Saturday visited the largest of the three islands, popularly known as “Las Marías,” off the coast of Nayarit in the Pacific Ocean. During his visit, AMLO announced that in three months the archipelago, which once served as a federal prison, would open up to tourists as
Read morePemex Gas Production Falls to New Low
By THE PULSE NEWS MEXICO STAFF Petróleos Mexicanos (Pemex), Mexico’s state-owned oil company, had the lowest recorded gasoline production on record in its existence in 2020, according to government figures. Gasoline production reached an average of 185,600 barrels per day, down 8 percent from the previous year. However, internal sales of Pemex gas managed to increase by 4 percent, reaching
Read moreAMLO: Mexican Lithium Mining Must Take Back Seat to Oil Recovery
XINHUA Mexico’s government may turn to developing its significant lithium deposits, but only after its oil industry is back on its feet, President Andrés Manuel López Obrador said on Friday, Dec. 13. That decision is mainly due to budget constraints that require the government to focus on recovering oil output before investing in other areas, AMLO told reporters at his
Read moreThe Dog Fight over Santa Lucía Airport
By RICARDO CASTILLO One day yes and the next day no. Again we’re getting bombarded with news of judges ordering the cancellation of the still-to-be-built Santa Lucía Airport located just northwest of the Teotihuacán pyramida, to the north of Mexico City. As of last week, 80 suits had been filed on environmental grounds stating that the damage the airport would
Read moreRevelations of AMLO-Trump’s Energy Renegotiations
By RICARDO CASTILLO At long last, we are beginning to hear some of the details of the United States Mexico-Canada Agreement (USMCA) negotiations. According to Mexican President-elect Andrés Manuel López Obrador (AMLO), the toughest clause was on energy, which was almost a deal-breaker. After heavy disputes, that bickering President Donald Trump finally softened his stance and spoke over the phone to AMLO.
Read more