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Tag Archives: Pemex

Mexico’s Pemex says largest refinery shut down due to fire after quake

Screen grab of firemen putting out refinery fire

REUTERS, JUNE 23, 2020 MEXICO CITY – Mexican national oil company Pemex said on Tuesday that its Salina Cruz oil refinery, the country’s largest, was offline after a fire broke out that badly injured at least one worker following a major earthquake that struck nearby. The fire, which ignited where power generators and a boiler are located, was quickly extinguished, …

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Mexico Oil Giant PEMEX Suspends Service Contracts, Sparking Job Losses

Oil rig with gas flare burning

BLOOMBERG, JUNE 11, 2020 Amy Stillman and Peter Millard for Bloomberg News — Mexico’s state oil giant is suspending contracts with service providers and suppliers, triggering thousands of job losses, people with direct knowledge of the situation said. Over the past several weeks, Petroleos Mexicanos has suspended contracts with at least eight local and international oil-service providers and suppliers to …

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The Secret Weapon Giving Mexico Upperhand in the Oil-Price War

Oil refinery

BLOOMBERG, APRIL 11, 2020 Mexico’s hedge strengthens its hand as negotiations drag on | The option could hand Mexico a multi-billion-dollar payout By Javier Blas and Amy Stillman for Bloomberg – As Mexico and Saudi Arabia fight over a deal to bring the oil-price war to an end, Mexico has a powerful defense: a massive Wall Street hedge shielding it from low prices. With talks …

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