The Mexican government plans to establish a new business within the state oil company Petroleos Mexicanos (Pemex) for the distribution of liquefied petroleum gas (LPG) directly to consumers, Mexico’s President Andres Manuel Lopez Obrador stated.

LUKOIL company announced that it enters into an agreement to acquire operation stake of 50% in the Area 4 project in Mexico by acquiring the operator’s holding company for $435 million.

BP announced that it has successfully started the Manuel project in the US Gulf of Mexico.

Pemex CEO, Octavio Romero Oropeza, announced that the company has discover a new field in Tabasco which is expected to produce around one billion barrels of oil helping to compensate the production slump.

The Mexican government has issued new regulations limiting private firms to import fuel.

Mexican state-run oil company Pemex expects to steadily increase liquids production over the next few years to reach 2.296 million barrels per day (bbl/d) by the end of 2024.

Mexico’s oil output hit a record low in July at 1.605 million barrels per day (mmbbl/d), with both national oil company Pemex and private oil producer’s production down on June’s figures.

According to data issued by the Energy Secretariat (SENER), diesel and gasoline demand in Mexico continue to recover by the start of business and industrial operations to back gradually despite the increase of number of coronavirus cases.

Mexican state-run oil company Pemex and America’s Talos Energy Inc have been ordered by the energy ministry to find a resolution over how they will jointly develop the large Zama offshore oil discovery.

OPEC member Mexico has stated that it will not join other top oil producing countries in supporting further oil cuts in July.