Latest news with #energía
Reuters
10 hours ago
- Business
- Reuters
Mexico's Pemex to save $184 million this year in reorganization
MEXICO CITY, June 4 (Reuters) - Mexican state energy company Pemex said on Wednesday that it plans to save 3.53 billion pesos ($183.89 million) this year and another 1.27 billion pesos next year as part of an institutional reorganization. In a regulatory filing, Pemex said layoffs would make up 1.4% of historical full-time positions, and that 71% of its total payroll spending would go to operational areas. ($1 = 19.1960 Mexican pesos)
Reuters
6 days ago
- Business
- Reuters
Colombia oil and gas E&P investment could jump 8% in 2025, industry group says
BOGOTA, May 29 (Reuters) - Colombia's investment in exploration and production (E&P) of hydrocarbons could jump some 8% this year to reach $4.68 billion, Colombia's leading industry group said on Thursday, warning this would not prevent a drop in gas production. The Colombian Oil and Gas Association (ACP) said the resources would however, maintain the South American nation's current levels of crude oil production. Investment last year was $4.33 billion, according to the ACP. "Today more investment is required to produce the same amount of oil, due to the natural depletion of the fields and the complexity of the operating environment," ACP President Frank Pearl said. "For gas, we are not managing to either increase production or replenish reserves, which is double the challenge when it comes to energy self-sufficiency," he added. The ACP estimated that $740 million would be invested in exploration this year, while $3.94 billion would go toward production so the country can keep pumping between 760,000 and 770,000 barrels of oil equivalent per day, similar to the 772,000 boepd recorded in 2024. However, it predicted that gas output would decline to 905 million cubic feet per day, compared to 959 million cubic feet last year. Since coming into office in 2022, President Gustavo Petro has sought to reduce the country's dependence on fossil fuels, a major contributor to the nation's economy, and move towards solar and wind energy projects.
Zawya
29-05-2025
- Business
- Zawya
Dubai's AMEA Power, Spain's Cox to set up JV to develop water, power projects
Spanish water and energy company Cox and Dubai-based renewable energy producer AMEA Power have agreed to establish a joint venture to develop, execute, and manage strategic water and energy infrastructure projects across the Middle East, Africa, and Asia. The companies will combine their technical, operational, and financial capabilities to address critical resource challenges in regions with rapidly increasing demand, they said in a joint statement. AMEA Power holds a 3.76 percent stake in Cox as an anchor shareholder, acquired during the latter's IPO in November 2024. No financial details were shared on the joint venture. Cox's current concession portfolio comprises five water assets for up to 945,000 cubic metres per day (m³/day), six energy generation projects and two transmission line concessions. It has delivered more than 8.3 million m³/day in desalination and treatment capacity worldwide. The company operates under a concession-based business model focused on water and energy, and complemented by engineering, procurement, and operations & maintenance (O&M) services. AMEA Power's portfolio comprises a project pipeline exceeding 6 gigawatts (GW) and more than 2,600 megawatts (MW) in operation and under construction. 'We aim to develop projects where access to water and energy complement each other, creating new opportunities where both are essential for the sustainable development of communities,' said Enrique Riquelme, Executive Chairman of Cox. (Writing by P Deol; Editing by Anoop Menon) (
Reuters
26-05-2025
- Business
- Reuters
Rise in Spanish industrial prices slows in April on cheaper energy
May 26 (Reuters) - The rise in Spanish industrial prices calculated over a 12-month period slowed in April on cheaper energy, the National Statistics Institute (INE) said on Monday. The industrial price index rose an annual 1.9% in April, down from a revised 4.6% increase in the 12 months through March, INE said. Industrial prices fell 2.9% in April from March, driven by a 15.9% decline in electricity prices and a 7.3% contraction in refined oil products, INE said. The price of vegetable oils, mainly made from olives in Spain, fell 4%. INE revised the year-on-year March price increase to 4.6% compared with an initial 4.9%. Industrial price changes tend to anticipate consumer prices as companies eventually transfer most of their cost increases to customers, ultimately fuelling inflation. Spain's European Union-harmonised 12-month inflation rate remained at 2.2% in April from the period through March.
Zawya
23-05-2025
- Business
- Zawya
GEPetrol Chief Executive Officer (CEO) Joins African Energy Week (AEW) 2025 as Equatorial Guinea Accelerates Upstream Revival
Bienvenido Nguema Envo, CEO of Equatorial Guinea's national oil company GEPetrol, has been confirmed as a speaker at African Energy Week (AEW): Invest in African Energies 2025, taking place from September 29 to October 3 in Cape Town. His participation comes at a pivotal moment for Equatorial Guinea as the country undertakes bold steps to revitalize its oil and gas industry, attract new investment and strengthen energy security across West Africa. Under Nguema Envo's leadership, GEPetrol is executing a robust development strategy that includes new production sharing contracts (PSCs), the relaunch of exploration and drilling activities, and a transformative field redevelopment program. His participation at AEW: Invest in African Energies 2025 is expected to spotlight these initiatives, while sharing insight into the role GEPetrol is playing in shaping the next phase of growth for Equatorial Guinea's energy sector. AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit for more information about this exciting event. Among the highlights of GEPetrol's recent activities is the company's strategic partnership with independent exploration and production company Panoro Energy for Block EG-23, a highly prospective offshore asset north of Bioko Island. Under the PSC, Panoro Energy now holds an 80% participating interest and operatorship of Block EG-23, while GEPetrol holds the remaining 20%. With estimated resources of 104 billion barrels of oil and condensate and 215 billion cubic feet of gas, the block has already yielded multiple discoveries and is a focal point of renewed exploration. The collaboration aligns with Equatorial Guinea's infrastructure-led approach to boosting upstream development. In addition, GEPetrol and energy major Chevron signed PSCs last year for Blocks EG-06 and EG-11, both located near the prolific Zafiro field. These deepwater blocks are viewed as central to reversing national production declines and unlocking new discoveries. The agreements come as part of Equatorial Guinea's broader effort to incentivize exploration in underdeveloped acreage and fast-track resource monetization. GEPetrol recently assumed operatorship of the Zafiro field – Equatorial Guinea's largest oil asset – following energy major ExxonMobil's exit. A multi-phase redevelopment plan is underway, with the company targeting increased production and operational optimization. A recent $350 million technical services contract awarded to international service provider Petrofac represents a key milestone in the redevelopment of the field as well as GEPetrol's transformation into a globally competitive upstream operator. 'Bienvenido Nguema Envo's participation at AEW: Invest in African Energies 2025 reinforces the strategic repositioning of GEPetrol as a driving force in Equatorial Guinea's energy resurgence. As the country advances major offshore projects, redevelops legacy fields and positions itself as a regional gas hub, Nguema Envo's leadership and vision are key to unlocking investment and production growth,' states NJ Ayuk, Executive Chairman of the African Energy Chamber. With 1.1 billion barrels of proven crude oil reserves and 1.7 trillion cubic feet of natural gas, Equatorial Guinea's energy potential remains significant. Nguema Envo's engagement at AEW: Invest in African Energies 2025 will provide a high-level view of GEPetrol's future-forward strategy, ongoing partnerships and the country's broader energy transformation. Distributed by APO Group on behalf of African Energy Chamber.
