Gulf Oil and Gas accountACCOUNT

Pemex Reports Net Production from January to September 2017

Source: www.gulfoilandgas.com 10/27/2017, Location: South America

Petroleos Mexicanos (PEMEX) announced its financial and operating results for the third quarter of 2017. Pemex points out that it guaranteed fuel supplies throughout the country despite hurricanes Calvin, Harvey and Katia that hit the coastlines of several entities of the Country and the earthquakes of 7 and 19 September.

Pemex also, in accordance with the established protocols, carried out several measures in its terrestrial and marine facilities to safeguard the safety of the personnel and the integrity of the installations.

The positive net income accumulated at September 30, 2017 was 19 billion pesos, which was not recorded since 2012, although the price of the Mexican crude oil blend in that year was above the current price. The average price of the Mexican oil mix from January to September 2012 stood at US $ 104 per barrel, while for the same period this year the average price was US $ 43 per barrel.

Thanks to the instruments provided by the Energy Reform, and in accordance with the Business Plan 2017-2021, Pemex continues to materialize strategic alliances. In this regard, Pemex won contracts in Round 2.1, jointly with DEA ??Deutsche Erdoel AG and Ecopetrol to operate two shallow water fields that correspond to two blocks tendered by the National Hydrocarbons Commission. These alliances allow sharing of risks, investment and technology for the exploration and production of oil.

In addition, Petroleos Mexicanos carried out the first farmouts in two of its terrestrial fields: Cardenas-Mora and Ogarrio. For the first field the winning company was Cheiron Holdings Limited and for the second DEA Deutsche Erdoel AG.

In 2014 in the Zero Round of the Energy Reform, Pemex received titles of hydrocarbon field assignment. However, the profitability of some allocations is diminished by the applicable tax regime. Last August was published in the Official Gazette of the Federation the regime established by the Ministry of Finance and Public Credit for such allocations up to 150 thousand barrels of crude per day. In this way the incentives for the adequate development of these allocations are aligned.

With these types of actions, Pemex reiterates its commitment to consolidate its finances through a focus on strategic and productive activities, within the new context of the national energy industry and in accordance with the 2017-2021 Business Plan.

Production News in Mexico >>

United States >>  10/19/2020 - Otto Energy has provided a market update on the status of production for the Green Canyon 21 (GC 21) 'Bulleit' field, operated by Talos Energy. The we...
Trinidad and Tobago >>  10/15/2020 - Trinity Exploration & Production plc, the independent E&P company focused on Trinidad and Tobago, provides an update on its operations for the three-m...

Colombia >>  10/14/2020 - GeoPark Limited, a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia...
Netherlands/Holland >>  10/14/2020 - Tulip Oil has announced the latest quarterly update on its oil and gas exploration and production businesses in the Netherlands and Germany.

...


Brazil >>  10/13/2020 - Alvopetro Energy Ltd. announces September natural gas sales from our Caburé Project under our long-term Gas Sales Agreement ("GSA") with Bahiagás. In...
Norway >>  10/13/2020 - The revised guidelines for production permit applications are now ready for use. The update is part of the effort to simplify and streamline processes...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


Mexico Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.