(Energy Analytics Institute, 4.Nov.2024) — Baker & Associates head George Baker, who published Mexico Energy Intelligence, spoke with Pietro D. Pitts—for his Podcast “LatAmNRG Matters”—about Mexico, Petróleos Mexicanos (Pemex), the Comisión Federal de Electricidad (CFE), the “Zama Drama,” Carlos Slim, and Andrés Manuel López Obrador (AMLO) legacy projects.
Baker, speaking from his home on 2 Nov. 2024 in Houston with Pitts, also spoke about what he called “touchy feeling things” as well as addressing why Mexico is “so sensitive or xenophobic about its oil industry.”
What follows are topics covered in the podcast and in no specific order:
—West Texas developers and mineral rights;
—The Mexican energy reform of 2013;
—The “beautiful idea” of a second national oil company in Mexico;
—AMLO’s impulse purchase of the Deer Park refinery in Houston and an estimated price tag of $1bn to decommission the refinery;
—AMLO’s vision to build a refinery, called Dos Bocas, on a swamp in Mexico; Pemex’ potential to produce 4-5 MMb/d;
—The Zama scandal and Zama Drama (including Talos Energy, Wintershall DEA, Harbour Energy) and why a Zama final investment decision (FID) is doubtful while Pemex operates;
—Woodside Energy’s $7.2bn bet on Mexico and 100,000b/d from its Trion offshore development from 2028;
—A lack of a gas pricing hub in Mexico; the all important narco influence;
—“Last mile” issues around Mexico’s LNG liquefaction developments (including those being developed by Sempra and Mexico Pacific, among others); and
—The Air Liquide Mexico debacle.
PHOTO CAPTION: George Baker speaking at an event in 2022. Source: Baker & Associates.
____________________
By Pietro D. Pitts, guest contributor. © Energy Analytics Institute (EAI). All Rights Reserved.
