Mexican oil (Pemex) began to cancel contracts with companies that own ships that provide services on the high seas, arguing “a fortuitous event of greater cause and of a global impact by virtue of the Covid-19 virus pandemic and because there is no programmed budget to continue with the operations of these vessels. ”
Through the letter PEP-DG-SPRMSO-113-2020 dated May 28 of this year, the director of Pemex Exploration and Production, through the Deputy Director of Production of the Southwest Marine Region, Víctor Gerardo Vallejo Arrieta, instructed Abraham David Alipi Mena, Deputy Director of Administration of Services for Exploration and Production, to temporarily dispense with seven boats for the “events that have impacted the world oil market, as well as the low economic activity derived from the health emergency caused by Covid-19, which implied the reduction of budgetary resources”.
The vessels to which the contract was canceled, from the end of the last interventions carried out in April and May are:
Vigo Process Boats charged to contract No. 421002860, whose object is “services for the recovery, storage and discharge of fluids from operations related to the drilling and completion of exploratory and development wells, during the capacity tests”, concluded between PEP and the FTTapias México II, whose end date of the last intervention was April 27.
Stimulator Boats “Stim Star Mexico” under contract No. 641005807 and Stimulator Boat “Stim Star Campeche” under contract No. 641005808, the object of both is “chemical treatment services, nitrogen pumping and induction in marine oil wells with an equipped support ship, which includes the laboratory services, nitrogen and supply of chemical products required for the dosing of treatment fluids ”, held with the supplier Halliburton de México. The date of his last intervention was April 22.
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Mutiservicios Gran Canyon, Far Sentinel and Blue Giant ships under contract No. 641009806, whose purpose are the “integrated services for the intervention of marine wells and support in the maintenance of PEP marine facilities with the support of an aircraft”, which PEP has signed with Typhoom Offshore. His last interventions were on May 24, 25 and 26.
Barco Mutiservicios Global Orion charged to contract No. 423024804 for the works of “cleaning wells with petro flow TM and organic Petro Boost TM systems, in wells in marine regions”, which PEP has entered into with the company Kanutam. His last intervention was on May 28.
The director of PEP added in his letter that “due to the nature of the factors that force us to this situation, there is no defined period of suspension in comment, until the conditions are favorable and our authorities authorize additional budget in these items ”.
OPEC extends production cut for another month, but Mexico does not accept
The member countries of the Organization of Petroleum Exporting Countries (OPEC) decided to extend the production cut by one month, and take it until July.
The cartel of the 13 producers who control 60% of world oil production in the world, agreed this Saturday to extend until July 31 the cut that was set at the last meeting on April 12, estimated at 9.7 million barrels to stabilize the market.
The initial agreement contemplated concluding the cut in June, a commitment that was also assumed by Mexico with a cut of 100 thousand barrels per day on average for the period May-June.
However, in this extension of the agreement, our country, through the Secretary of Energy, Rocío Nahle He refused to accept the cut and walked out of the deal.
Iran’s Oil Minister Biyan Zanganeh released the above after an OPEC teleconference, prior to the OPEC + meeting, with Russia, Mexico and other independent producers.
“It was decided to extend the limit of 9.7 million barrels per day for one more month,” the minister said on his Twitter account.
According to the Russian news agency TASS, which had access to the draft of the official statement of the oil cartel, OPEC recognizes that countries that did not comply with the agreed extraction cuts will have to compensate between June and September the difference between the pumped and the fixed fixed fee.
He adds that the OPEC + supervisory ministerial committee, OPEC members and independents will meet once a month until the end of 2021.
During the inauguration of the teleconference, the president of the cartel and the Algerian Minister of Energy, Mohamed Arkab highlighted that in the first half of the year the increase in world oil reserves is estimated at 1.5 billion barrels, which he described as ” something without precedent ”.
The next meeting of ministers of the organization is scheduled for November 30, while the compliance committee will meet on July 18 to analyze the level of compliance with the agreement of each of the participants.
OPEC and Russia have been forced to cut production since the beginning of April as a result of the coronavirus pandemic and oil demand containment measures, leading to a collapse in prices.
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