Billions in Oil Riches Vanish in Latin America as Pemex Stumbles
February 7th, 2023
Courtesy of Bloomberg, a report on how Pemex has seen its crude output decline almost every year since 2004 as mismanagement, debt and failing projects drag down Mexico’s oil giant: The rebound in oil prices over the last two years brought in record profits for the world’s largest crude producers, shoring up local economies and boosting jobs. Despite the fanfare, […]
Read more »Pemex’s Losses Deepen Mexico’s Financial Woes
September 1st, 2020
Via STRATFOR (subscription required), a short report on Pemex: Mexican President Andres Manuel Lopez Obrador’s failure to strengthen Pemex’s finances and shore up domestic oil production will exacerbate Mexico’s public finance woes from COVID-19. On Aug. 24, Mexico’s state-owned energy giant Pemex reported its lowest level of monthly crude oil production since 1979, with the company’s […]
Read more »Mexico’s Pemex: From Cash Cow To Resource Drain
May 5th, 2020
Courtesy of The Financial Times, a look at Pemex: At the end of 2016, Pemex came up with a new strategy: it would focus exclusively on profitable activities. The plan, a no-brainer for most businesses, was a novelty for Mexico’s state oil company, a national champion created in 1938 after Mexico expropriated US and UK […]
Read more »RSVP: Mexico’s Invitation To Foreign Oil Companies
August 30th, 2014
Courtesy of Fortune, a look at the impact that Mexico’s recent decision – seventy-six years after nationalizing its oil business – to invite foreign companies back to drill might have upon Pemex: Mother Nature long coddled Mexico’s national oil company, blessing it with fountains of homegrown black gold. But in recent years she has gotten […]
Read more »Mexico Opens Up Energy Sector
August 12th, 2013
Courtesy of The Financial Times, a report on Mexico’s decision to open up its energy sector: President Enrique Peña Nieto has unveiled plans to change Mexico’s constitution and open up the country’s energy sector to foreign investors for the first time in 75 years, a move that could unleash billions of dollars of investment from […]
Read more »Pemex: Unfixable?
August 11th, 2013
Via The Economist, a look at Pemex, Mexico’s troubled oil firm: A JAR of crude oil, not much bigger than one of baby food, has pride of place in the office of Carlos Morales, the veteran oilman in charge of exploration and production at Pemex, Mexico’s state oil monolith. He handles it reverentially because it […]
Read more »Focusing primarily on The New Seven Sisters - the largely state owned petroleum companies from the emerging world that have become key players in the oil & gas industry as identified by Carola Hoyos, Chief Energy Correspondent for The Financial Times - but spanning other nascent opportunities around the globe that may hold potential in the years ahead, Wildcats & Black Sheep is a place for the adventurous to contemplate & evaluate the emerging markets of tomorrow.