Mexico Orders Arrest of CEO in Oceanografia Fraud Probe
The Mexican Attorney General's office has ordered the arrest of the chief executive of oil services company Oceanografia, which is at the center of a fraud probe involving Citigroup Inc's local unit Banamex. Oceanografia CEO Amado Yanez is under police protection in hospital after undergoing emergency surgery on May 20, a statement from the attorney general's office said on Thursday. Yanez, who is also majority owner of Oceanografia, would be formally placed under arrest once he had left hospital, a spokesman for the attorney general's office said.
Pemex CEO Lozoya to Leave Job
Emilio Lozoya is set to leave his job as the chief executive of Mexico's struggling state-oil company Pemex, according to three sources with knowledge of the situation. Lozoya, a close ally of Mexican President Enrique Pena Nieto, became Pemex CEO in December 2012, overseeing the company during a momentous energy reform that ended Pemex' decades-long monopoly over the country's oil and gas sectors. Earlier on Monday, two Pemex spokesmen said Lozoya was working normally in his office and denied he was leaving.
Subsea 7 Wins GofM Pemex Contract
Subsea 7 S.A. announce a contract award by Pemex to its Mexican joint venture valued at approximately US$90-million. The contract comprises the engineering, fabrication and installation of an 8km pipeline, related risers, two slug catchers (a slug catcher is a storage vessel used to separate oil, water and gases and regulate flow within a pipeline) and two cantilever structures for the Line 67 Project in the Bay of Campeche. This is the second contract awarded to the joint venture.
Pemex Says Port Accident Injures 17 Workers
Mexican national oil company Pemex said on Wednesday that an accident at a terminal near the Gulf coast port city of Tampico has injured 17 workers, but none were badly hurt. The company said in a post on its Twitter page that all the workers were receiving medical treatment following the accident at the Madero terminal, which processes both crude oil and other petroleum products. (Reporting by David Alire Garcia)
GE Oil & Gas Sign GofM Deepwater Contracts
GE Oil & Gas has signed an $84-million agreement with PEMEX Exploration and Production to supply and install subsea wellheads for PEMEX’s deepwater and ultra-deepwater drilling projects in the Gulf of Mexico. The Gulf of Mexico is a strategic zone for the hydrocarbon industry, since it is estimated to hold more than 50 percent of Mexico’s potential or prospective resources. However, such reserves are located in deepwater and ultra-deepwater sites, and advanced technology is needed to extract those resources for the benefit of the country.
Mexico Lifts Bidding Limits for First Batch of Oil Tenders
Mexico's oil regulator voted on Friday to relax rules on bidding terms and contracts that form the first step in a historic sector opening that kicks off this summer with the public auction of 14 shallow water fields. The July auction will mark the first of five packages of oil fields up for grabs, part of a so-called Round One tender that follows a major energy reform approved by Congress last year. The constitutional reform ended the decades-long monopoly enjoyed by state-owned oil company Pemex and aims to reverse a decade-long slide in Mexican crude output.
Aker Solutions Wins Offshore Mexico Order
Aker Solutions won its first order for a project offshore Mexico as it secured a contract from Saipem to supply umbilicals for the Pemex-operated Lakach deepwater natural-gas field. Aker Solutions will deliver electro-hydraulic steel tube umbilicals of about 73 kilometers (45 miles) that will help connect Mexico's first subsea gas development to onshore processing facilities. The field is located about 98 kilometres (60 miles) southeast of Veracruz at depths of between 900 and 1,200 meters in the Gulf of Mexico. It is targeted to supply 400 million standard cubic feet per day.
Exxon, Total, Chevron in Talks With Pemex on Gulf
Oil majors are in talks with Mexico’s state-owned Petroleos Mexicanos (Pemex) as the struggling state-run oil producer seeks partners to develop deepwater crude in the Gulf of Mexico, reports Bloomberg. Petroleos Mexicanos is in talks with Exxon Mobil Corp., Total SA and Chevron Corp. as Mexico’s struggling state-run oil producer seeks partners to develop deepwater crude in the Gulf of Mexico. Pemex seeks Areas of Mutual Interest agreements to evaluate whether the companies have opportunities to work together in offshore areas.
Pemex Confirms Explosion in Oil Platform at Gulf of Mexico
An oil platform run by Mexico’s state oil company Petroleos Mexicanos (Pemex) in the southern Gulf of Mexico suffered what appeared to be an explosion on Monday. Pemex confirmed that there had been an “accident” and a “fire” after a leak of oil and gas, while local media called it an “explosion”. The company claimed to have contained the oil and gas leak that appears to have sparked a fire on its satellite oil platform. However, it said any impact on output remained unclear. Local media said there was an explosion and a fire on the platform.
Offshore Oil Drilling Market to Suffer through 2015
A sluggish offshore drilling market could deteriorate further next year due to weak demand and a flood of new vessels, even though a few places such as Mexico and Brazil remain promising for exploration, industry executives said on Wednesday. Rig rates have fallen sharply over the past 18 months as oil companies cut capital spending, saving cash for dividends, just as dozens of brand new offshore rigs ordered during the boom times hit the seas, creating overcapacity. "The market is going to be bad this year…
Sex, Scares, Special Effects Spice Up Pemex Safety Movies
In one movie, two bikini-clad women sashay around a swimming pool in stiletto heels, laughing about how one used sex to persuade her hard-working husband to buy her an expensive truck. In another, two oil executives entangled in a love triangle are transported 20 years into a bleak future by flashing green rocks. Yet another follows a devilish seductress in fishnet stockings as she exhales magical black smoke and wreaks havoc on an oil rig. The scenarios sound like typical telenovela fare.
SENER Appoints Marine Commercial Director for Mexico
Héctor Martínez has been appointed Commercial Director of SENER’s Marine Strategic Business Unit in Mexico in addition to his responsibility as Commercial Director of the Aerospace Strategic Business Unit in the same division. These are two business sectors with good growth prospects, in which SENER has operated for several years providing Engineering and Construction services. Born in Mexico, Héctor Martínez is an Electromechanical Engineer graduated from the Pan-American University…
Pemex Appoints New Director for Commercial Arm
Mexico's state oil company Pemex said on Tuesday it had named Isaac Volin Bolok as head of its commercial arm, PMI Comercio Internacional. Volin Bolok will replace Jorge Sanchez and start the post on June 27. He previously served as the director of BlackRock in Mexico and corporate commercial director of now bankrupt airline Mexicana, according to his LinkedIn profile. (Reporting by Ana Isabel Martinez and Joanna Zuckerman Bernstein; Editing by Bill Trott)
EMGS Permitted for Multi-client Survey in Mexico
EMGS has received permits from Mexico's Comisión Nacional de Hidrocarburos (CNH) authorizing the acquisition of up to approximately 88,000 square km 3D EM multi-client data in the Salina de Itsmo Basin. EMGS will prioritize acquiring EM data for the future bid rounds in Mexico as outlined in the ''Plan Quinquenal de Licitaciones para la Exploración y Extracción de Hidrocarburos 2015-2019'' announced by theSecretaría de Energía (SENER) in early July. "We are pleased and encouraged by the recently announced 5 year plan for future licensing rounds offshore Mexico.
Saipem Bags $750m E&C Contracts in Gulf of Mexico
Saipem has been awarded new offshore Engineering & Construction contracts in the Gulf of Mexico, for a total amount of approximately $750 million. Pemex has awarded Saipem an EPCI contract for the development of the Lakach field, located 98 km southeast of Veracruz and 131 km northwest of Coatzacoalcos, at a water depth varying between 850 and 1,200 metres. The scope of work of the contract involves the engineering, procurement, construction and installation of the system connecting the offshore field with the onshore gas conditioning plant.
Pemex Suspends Eviction of Workers in Campeche
Due to the behavior shown by the low pressure system in the Gulf of Mexico, whose career was diverted in the last hours, the Technical Analysis Group Emergency Response Plan for Hurricanes (PREH) of Pemex, recommended the suspension of the removal of offshore platforms in Campeche. On platforms remain toiling around 16 thousand workers whose activities are directly related to production. As reported in the morning, as a preventive measure, Petroleos Mexicanos further evictions of maintenance workers, support and ancillary services in the marine area.
EMGS 2Q Revenue Falls
Electromagnetic Geoservices ASA (EMGS) recorded revenues of USD 12.1 million in the second quarter 2015, down from 32.3 million in the previous quarter and from USD 42.5 million in the second quarter 2014. Contract sales ended at USD 4.8 million, while sales from the multi-client library ended at USD 7.3 million. The results were negatively affected by extraordinary costs related to the Company's cost reduction program. EBITDA ended with a negative USD 6.0 million after a multi-client investment of USD 14.0 million.
Pemex Loses $4.4B in Q3
Mexico's state-owned oil company Pemex reported a sharply deeper third quarter loss, nearly 50 percent larger compared to the same period last year, the company said on Friday in a filing with the Mexican stock exchange. Pemex said its quarterly loss totaled 59.65 billion pesos ($4.44 billion) during the July to September period, compared with a year earlier loss of 39.2 billion pesos ($2.98 billion). The company reported third-quarter revenues of 406.5 billion pesos for the quarter, down 0.7 percent compared with same period last year. ($1 = 13.4235 Mexican pesos at end-Sept.)
Petrobras to join Oil and Gas Climate Initiative (OGCI)
Petróleo Brasileiro SA (Petrobras) has announced its intention to join the Oil and Gas Climate Initiative (OGCI). The company revealed that its CEO, Pedro Parente, has signed a letter of engagement so that the company can become an effective member of the voluntary initiative, which aims to lead the industry response to climate change. The OGCI is the CEO-led grouping of oil and gas companies that intends to lead the industry’s response to climate change, pooling knowledge and collaborating on action to reduce greenhouse emissions.
Senator Urges Obama Admin to Detail Oil Swaps with Mexico
One of the U.S. Senate's top advocates for lifting the ban on domestic crude exports urged the Commerce Department on Thursday to disclose whether any oil swaps with Mexico have actually been finalized after the agency approved the transactions in August. Administration officials told Reuters in August that the Commerce Department was "acting favorably on a number of applications" to export U.S. crude in exchange for imported oil from Mexico, in a step seen as loosening the ban on most crude oil exports.
Pemex Output Steady in November, Exports Up
Mexico's state-run oil company Pemex said on Friday its crude oil production held steady in November from the previous month at 2.363 million barrels per day (bpd), the lowest monthly figure on record. Crude export volumes in November were up 8.1 percent from October at 1.23 million bpd, Pemex said. Energy Ministry output records date to January 1990. (Reporting by Adriana Barrera; Editing by Leslie Adler)
Mexico says Energy Price Hikes over for 2015
Mexico's government said on Friday that its latest "gasolinazo," or gasoline price spike, will be the only increase this year. The fuel price hike in the world's 10th biggest crude producer comes as slumping international oil prices have led to dramatically shrinking gasoline and diesel costs in countries where market forces determine prices, such as the United States. The finance ministry's announcement that prices would remain stable in 2015 follows government-set fuel and power price hikes announced quietly on Thursday…
McDermott Yard in Mexico Now a Free Trade Zone
The Central Administration of Customs in Mexico has authorized McDermott International, Inc. to operate its Altamira fabrication facility near Tampico, Mexico as a free trade zone. Located on the Gulf of Mexico coast and serving both PEMEX domestic requirements and export work for international clients, Altamira is now the first fabrication facility licensed to operate as a free trade zone in Mexico. “The benefits of operating as a free trade zone to McDermott’s international clients is through the ability to import components…
McDermott Completes Pemex Compression Module
McDermott International, Inc. announced today that one of its joint venture companies, Qingdao McDermott Wuchuan Offshore Engineering Co. Ltd. (“QMW”), recently completed a fast-track compression process module fabrication subcontract for Jord Oil & Gas Systems B.V. (“JOGS”). JOGS is the prime contractor for the process modules for the jack-up compression platform which will connect to the PEMEX Akal G-1 platform offshore Mexico. The scope of work, awarded in the first quarter 2014…
Cal Dive Nets International Contracts
Cal Dive International charters out diving vessel & also wins 3 Australian saturation diving contracts. The company's diving vessel Kestrel is chartered to a major contractor in Mexico to perform repair and maintenance work for Pemex. The charter started in mid-October and has a fixed term of two years with an additional one-year option. The charter is expected to result in EBITDA of approximately $10 million per year during the two-year charter term. The vessel is expected to generate approximately break-even EBITDA in 2012.
BP Shares Deepwater Well-capping Expertise
Under the Technology License Agreement, BP will make available technical information that PEMEX E&P can use. Petroleos Mexicanos Exploration and Production (PEMEX E&P) and BP's agreement is for the latter to share the technical information it used to build its own global deepwater well-capping equipment. Under the Technology License Agreement, BP will make available technical information that PEMEX E&P, one of four subsidiaries of PEMEX, can use, in addition to PEMEX E&P initiatives already in place…