Saguaro Energía Faces Delays: The Week in Oil and Gas

Mexico Pacific has asked for another extension for its Saguaro Energía project as it will not be able to meet the deadline to start operations. In other news, SLB announced it has completed its acquisition of ChampionX Corporation, while Expro secures a contract for the Trion deepwater project.

Ready for more? Here is the weekly roundup!

Mexico Pacific Limited Seeks Extension for Saguaro Energía

Mexico Pacific Limited, developer of the Saguaro Energía LNG export project, is seeking a seven-year extension of its export deadline from the US Department of Energy (DOE). The company filed the request stating it would be unable to commence commercial operations by the current December 2025 deadline due to "circumstances beyond its control." If approved, this extension would push the project's export start until 2032.

SLB Finalizes ChampionX Acquisition, Expands Production Focus

SLB announced it has completed its acquisition of ChampionX Corporation. Under the terms of the agreement, ChampionX shareholders received 0.735 shares of SLB common stock for each ChampionX share, resulting in former ChampionX shareholders owning approximately 9% of SLB’s outstanding common stock.

New Air Pollution Controls for Gas Stations: ASEA

Mexico's Agency for Safety, Energy and Environment (ASEA) has published a new agreement establishing measures for controlling and monitoring atmospheric pollutant emissions at gasoline and diesel service stations. The agreement outlines technical specifications and obligations for gas stations across the country.

PEMEX Burns Through 67% of Rescue Funds to Cover Debt

Amid shrinking revenues and rising debt, Mexico’s state oil company continues to lean heavily on government support to stay afloat. By May 2025, PEMEX had already spent over two-thirds of the federal funds allocated for its financial rescue, using MX$91.3 billion of the MX$136 billion assigned under the government’s debt relief plan.

Salina Cruz Urges PEMEX to Act on Repeated La Ventosa Spills

Local authorities in Salina Cruz are seeking a coordinated response from PEMEX following a string of hydrocarbon spills in Bahía La Ventosa, including the most recent on July 14. At a meeting held in the municipal council chambers, Mayor Daniel Méndez convened naval officials, PEMEX representatives, and residents of La Ventosa to address the environmental and economic fallout.

Expro Secures Trion Deepwater Contract

Expro has been awarded a three-year contract by Woodside Energy for the Trion deepwater oil and gas development offshore Mexico. This project will establish Mexico's first deepwater oil production facility.

Tamaulipas Launches Public Gas Station Brand to Ensure Quality

Tamaulipas is launching its own chain of gas stations to guarantee certified fuel quality and reliable supply. Branded as Gasolinas Bienestar Tamaulipas, the public initiative aims to bring tighter oversight to the state’s fuel market by operating directly in it.

RelyOn Bolsters Training Capacity With New Altamira Center

RelyOn, a global leader in safety and technical training, aims to reinforce its commitment to safety excellence and regional growth by highlighting the attributes of its Altamira center.

Harfuch Denies Navy, FGR Collusion in Fuel Theft Investigation

Following a media report suggesting collusion between federal authorities and a criminal group dedicated to fuel theft, Minister of Security Omar García Harfuch rejected the allegations and highlighted the role of those very institutions in dismantling the network.

Mexico Announces Debt Issuance to Support PEMEX Liquidity

The Ministry of Finance and Public Credit (SHCP) announced it will issue Pre-Capitalized Notes to strengthen PEMEX’s financial position and address its short-term obligations. This operation is part of an integral financial strategy for PEMEX, aimed at improving liquidity, optimizing debt maturity profiles, reducing liabilities, and lowering financial costs.

PEMEX Fracking Wells in Nuevo Leon Face Water Safety Risks

The Commission for Environmental Cooperation (CEC) has released a factual record highlighting serious concerns about sustainable water use and safety protocols at two PEMEX-operated hydraulic fracturing wells in Nuevo Leon. Published on July 3, the report exposes significant enforcement gaps in Mexico’s regulations governing fracking activities.