Mexico Oil Auction Winners Stay Positive as Industry Slows Down

By Amy Stillman (Bloomberg) -- Mexico’s oil auction winners BHP Billiton Ltd and DEA Deutsche Erdoel AG are hopeful that the slowdown in bid rounds is a feature of the country’s political transition and won’t be permanent. "We have expectations that things will pick up again and continue,” said DEA Deutsche chief executive officer Maria Moraeus Hanssen. The company expects … [Read more...]

300 Pacific Ocean Sea Turtles Dead Off Mexican Coast

by Jose Cortes (Reuters) - About 300 endangered sea turtles were found dead off the southern coast of Mexico on Tuesday, trapped in fishing nets, shortly after more than 100 dead turtles were recovered. Fishermen in the southern state of Oaxaca discovered the turtles in the seaside community of Barra de Colotepec, said Heliodoro Diaz, the coordinator of the state’s … [Read more...]

As Mexico’s Oil Sector Sputters, Crime and Violence Rattle Industry Towns

By Gabriel Stargardter PARAISO, Mexico, June 28 (Reuters) - Until recently, Edgar Barrera enjoyed a life many Mexicans could only hope for. In a few short years, the 36-year-old bookkeeper rose from handyman to white-collar worker at what seemed to be one of the most stable companies in Latin America: state-owned oil firm Pemex. Thanks to Pemex, Barrera met his wife, … [Read more...]

Pemex Invites Partners Offshore

  by Marianna Parraga (Reuters) - Mexico’s state-run Pemex [PEMX.UL] might bring partners into two heavy crude oilfields in the Gulf’s shallow waters, the company’s chief said on Tuesday, move that could help ease a lack of heavy barrels in the Atlantic basin. After nine bidding rounds in just three years and a presidential election scheduled in July, Mexico’s … [Read more...]

How Shell Hid a ‘Whale’ Well Before Placing Mexican Oil Bet

By Ron Bousso and Marianna Parraga LONDON/HOUSTON, March 2 (Reuters) - The gasps in the audience were clearly audible at the auction of Mexico's oil blocks a month ago as Royal Dutch Shell's hefty bids were announced one by one. The size of Shell's cash payments - $343 million out of the total of $525 million that Mexico earned in the sale - far outstripped its … [Read more...]