Reuters – Mexico’s Federal Electricity Commission said it has signed a memorandum of understanding with construction company ICA to work on joint power generation projects as part of efforts to open up the country’s energy sector.
FT – Pemex has become the latest to take advantage of the slump in borrowing costs in the Eurozone. The company is looking to raise as much as €2.5bn through the sale of a two-tranche euro-denominated bond on Tuesday.
Wind Power Monthly – Acciona has been awarded a 129MW deal by an unnamed company for a project in Mexico. Acciona said the order takes its total sales in Mexico to 988.5MW, with 38 percent of orders for its 3MW turbine.
AP – Pemex and U.S.-based First Reserve are announcing a $1 billion deal to invest in the energy sector. Petroleos Mexicanos says that the agreement covers potential projects including infrastructure, sea transport, cogeneration and processing.
Fuel Fix – Mexican energy regulators expressed confidence that low oil prices won’t suppress activity as the country auctions exploration and production rights for the first time in more than 75 years.
Sentido Comun – Petroleos Mexicanos said that production has resumed at the Abkatun oil production center after a fire on one of the platforms killed four people and left 16 more injured.
BBC – Pemex says it is still searching for three workers who went missing after a fire at an offshore oil platform. Four people were killed in Wednesday’s fire, the cause of which is unknown. More than 300 workers had to be evacuated from the rig in the Gulf of Mexico.
La Verdad – The PAN leader of deputies, Ricardo Cortés Anaya, said that in the remainder of the current term, his party will insist on lowering gasoline prices and foster a fiscal counter reform.
Business News America – ONEOK Partners entered into a joint venture with a subsidiary of Fermaca to build a pipeline to transport natural gas to Mexico from the Permian basin in Texas.
CNNExpansión – In 2014, Pemex detected 297 illegal taps in Puebla, the state in which fuel theft causes the most problems. Between the second half of 2014 and early 2015, the fuel shortage affected some 480 stations. As a result, some 50 closed their facilities.
Bloomberg – Pemex is ready to take deliveries of U.S. crude “as soon as tomorrow” if the U.S. Commerce Department approves an application for a crude exchange, Jose Manuel Carrera, chief executive officer of PMI, the firm’s commercial arm, said.
Reuters – Asset manager BlackRock and U.S. private equity firm First Reserve have taken a joint stake worth around $900 million in the second phase of Mexico pipeline project Los Ramones. The pipeline will eventually run from the U.S.-Mexico border to central Mexico.
Reuters – Mexican state oil firm Pemex expects imminent approval from the U.S. Commerce Department to allow it to swap up to 100,000 barrels of heavy crude for a similar amount of lighter U.S. oil, what could be the latest milestone toward loosening the four-decades old ban on exporting U.S. oil.
Reuters – As Mexico opens up its oil sector to private producers for the first time in decades, the initial set of contracts up for grabs later this year will feature extended exploration periods, the country’s oil sector regulator said on Wednesday.
Reuters – Pemex is set to launch its first-ever sales of gasoline mixed with cleaner-burning ethanol to reduce greenhouse gas emissions. Pemex has awarded contracts to be supplied with locally-produced sugar cane and sorghum.
Telesur – Marking the 77th anniversary since Mexico nationalized its energy sector, union members and civil organizations protested Mexico’s controversial energy reform that will see the sector be opened up to privatization.
Reuters – Mexico’s state-owned oil company Pemex could double crude exports to South Korea to 10 million barrels by the end of the year, the head of the company’s trading arm said.
Economic Times – Indian refineries have consistently reduced imports from traditional markets like Saudi Arabia and Iran and have stepped up purchases from other geographies such as Mexico, Iraq and Venezuela while building inventories, as crude prices remain weak due to lower demand.
NYT – Mexico kicked off the opening of its oil industry to great fanfare. With oil fetching around $100 a barrel at the time, the projections were ambitious. Now, oil prices have sunk to almost half that level, and the atmosphere has turned anxious.
Sentido Comun – Petroleos Mexicanos said it reached a settlement with Siemens to resolve all legal disputes concerning Siemens and a consortium’s work reconfiguring the Cadereyta refinery in Nuevo Leon.