(Energy Analytics Institute, Jared Yamin, 22.Aug.2018) – Mexico’s President-elect AndrĂ©s Manuel LĂłpez Obrador announced plans to boost Mexico’s crude oil production to 2.5 million barrels per day (MMb/d) by 2021 from almost 1.9 million today. LĂłpez said the plan was to boost Mexico’s production by 600,000 barrels per day during […]
Category: Mexico
Mexico energy
U.S. Co. Wins Contract for Mexico LNG Project
(Natural Gas Intelligence, Peter de Montmollin, 22.Aug.2018) — A U.S. company has secured a long-term contract to build a liquefied natural gas (LNG) import project on the southern tip of Mexico’s Baja California peninsula, a region isolated from the country’s main energy transmission systems. New Fortress Energy (NFE) won a […]
Pemex Unit Fined $22 Mln by Competition Authority
(Reuters, 21.Aug.2018) — Mexico’s competition authority said on Tuesday that it has fined a unit of state-owned oil company Pemex for presenting an annual compliance report on antimonopoly measures in the recently opened fuel market a year after it was due. The Federal Commission for Economic Competition, or COFECE, fined […]
New Fortress to Build $184 Mln LNG Terminal in BCS
(MexicoNow, 20.Aug.2018) – U.S. energy infrastructure developer New Fortress Energy (NFE) announced that it was awarded a long-term contract for the development, construction and operation of a terminal dedicated to the import of liquefied natural gas (LNG) in the port of Pichilingue, Baja California Sur. This contract was the result […]
Pemex Advances Digital Changes to Boost Competition
(Pemex, 20.Aug.2018) – Pemex commenced its Digital Week, so personnel could be trained with the new technological tools developed by the Corporate Department of Informational Technology (DCTI) to improve work strategies, as they are integrated through all the areas to become more efficient in the state-owned petroleum company. At the […]
U.S.’s Perry Applauds Mexico’s Plan to End Fuel Imports
(Reuters, David Alire Garcia, 16.Aug.2018) – U.S. Energy Secretary Rick Perry praised the goal set out by Mexico’s incoming president to end massive gasoline and diesel imports, nearly all of which come from the United States, as a measure that will boost prosperity in its southern neighbor. During a visit […]
Pemex Ethylene, PE Output Unaffected by Pipeline Incident
(Platts, 16.Aug.2018) — State-owned Pemex’s ethylene and polyethylene production facilities ran normally even as a pipeline incident led fellow Mexican polymer producer Braskem Idesa to institute a temporary shutdown of operations, company sources said Thursday. The incident occurred last week and resulted in the shutdown of two Pemex gas processing […]
Guyana to Become 5th Largest Oil Producer in LAC Region
(Energy Analytics Institute, Piero Stewart, 15.Aug.2018) – If all goes off as planned, by 2025, Guyana will be the 5th largest oil producer in the Latin American and Caribbean region. That’s according to an analysis of data posted by Trading Economics, and extrapolation of estimates of Guyana’s future oil production, […]
Mexico’s Struggling Pemex Awaits New President’s Risky Fix
(Bloomberg, Amy Stillman, 14.Aug.2018) – By most financial measures, Mexico’s state oil company is seriously unwell. The country’s new leader is promising to revive it. But the treatment could end up killing the patient. After borrowing more than $100 billion, Petroleos Mexicanos is one of the world’s most indebted oil […]
Technology, New Innovations and the LatAm Energy Sector
(Energy Analytics Institute, Pietro D. Pitts, 14.Aug.2018) – The ability to use hydraulic fracturing to tap shale formations, to remotely monitor and manage assets, and use advanced technology to heat reservoirs, are a few of the many new innovations used in the capital intense hydrocarbon sector. Faced with rising competition […]
Mexico’s Fuel Plan Won’t Immediately Impact Texas
(Texas Tribune, Juan Luis GarcĂa Hernández, 14.Aug.2018) – After a dramatic spike in gasoline prices incited widespread protests in Mexico last year, then-presidential candidate AndrĂ©s Manuel LĂłpez Obrador made a promise that caught the attention of Texas officials and the state’s oil and gas industry: The veteran left-wing politician vowed, […]
AMLO Pledges More Than $11 Bln for Refineries
(Reuters, 13.Aug.2018) – Mexican President-elect Andres Manuel Lopez Obrador said on Monday his administration will invest more than $11 billion to boost refining capacity in order to curb growing fuel imports. Lopez Obrador, who will take office on Dec. 1, told reporters his government plans to invest $2.6 billion to […]
Two Companies to Ship Fuels from US to Mexico
(Energy Analytics Institute, Ian Silverman, 11.Aug.2018) – To-date, two oil companies are working to export fuels from the U.S.A. to neighboring Mexico, through the Port of Brownsville. “Our main client is P.M.I. Comercio Internacional, a subsidiary of Pemex, that’s dedicated to the import and export of hydrocarbons,” reported the daily […]
Mexico’s CNH to Speak at EnerCom Conference
(Energy Analytics Institute, Jared Yamin, 9.Aug2018) – The 23rd annual EnerCom conference will take place in the Denver Downtown Westin Hotel on Aug. 19-22, 2018. Companies with exposure to Latin America that will participate in special panels during the event include the following: Oil & Gas in Mexico Panel — […]
EAI brief: Pemex’s Salina Cruz refinery halts operations
HOUSTON, TEXAS (By Ian Silverman, Energy Analytics Institute, 9.Aug.2018, Words: 112) – Pemex’ Salina Cruz refinery halted operations Wednesday night due to a power outage. The refinery, located in Oaxaca, is one of six refineries owned by Pemex, and is currently processing 238,000 barrels per day (b/d), reported the daily […]
Sempra Energy Forms North American Infrastructure Group
(Sempra Energy, 8.Aug.2018) – Sempra Energy formed a new operating group for its North American infrastructure businesses and named Carlos Ruiz Sacristán chairman and CEO of the group, Sempra North American Infrastructure. Ruiz has served as chairman and CEO of Sempra Energy’s Mexican operating subsidiary, Infraestructura EnergĂ©tica Nova, S.A.B. de […]
Talos Energy Conference Call, Webcast
(Talos Energy Inc. 6.Aug.2018) – Talos Energy Inc. will host a conference call, which will also be broadcast live over the internet, on Tuesday, August 7, 2018 at 10:00 am Eastern Time (9:00am Central Time). Listeners can access the conference call live over the internet through a webcast link on […]
Talos Energy Announces 2Q:18 Financial, Operational Results
(Talos Energy Inc., 6.Aug.2018) – Talos Energy Inc. announced its financial and operational results for the second quarter ended June 30, 2018, and reaffirmed the previously released pro forma full year 2018 production, expenses and capital expenditure guidance. Combination with Stone Energy Corporation On May 10, 2018, Talos Energy LLC […]
Background: Premier Oil’s Entry Into Mexico
(Premier Oil, 6.Aug.2018) — London-based Premier Oil is focused on development of assets in parts of the world from South East Asia, the North Falklands Basin, as well as Mexico and the world-class oil discovery at Zama. What follows is a backgrounder on Premier in Mexico: In July 2015, Premier […]
Shell Offers 1H:18 LatAm Updates
(Energy Analytics Institute, Jared Yamin, 1.Aug.2018) – Royal Dutch Shell plc announced the following updates during the first half of 2018. Mexico In the deep-water bid round in Mexico in January for the Gulf of Mexico, Shell won four exploration blocks on its own, four with its partner Qatar Petroleum […]
Shell Provides 3Q:18 Outlook Update
(Energy Analytics Institute, Jared Yamin, 1.Aug.2018) – Royal Dutch Shell plc offered the following outlook for the third quarter of 2018. Compared with the third quarter 2017, Integrated Gas production is expected to be 40 – 70 thousand boe/d lower, mainly due to divestments and higher maintenance. LNG liquefaction volumes […]
Pemex Has or Doesn’t Have Money?
(Energy Analytics Institute, Aaron Simonsky, 1.Aug.2018) – If Mexico’s Pemex doesn’t have the necessary funds to invest in deep water or shale activities, how is it the state oil company will have funds to invests in new refineries as proposed by President-elect AndrĂ©s Manuel LĂłpez Obrador? Join the discussion below […]
Pemex Inaugurates 1st Petrol Station with New Image
(Pemex, 1.Aug.2018) – The CEO of Pemex TransformaciĂłn Industrial stated that the new concept will help the franchise maintain its leadership in the national market​ The first “Flagship” service station of the Pemex franchise, located in the colonia Centro in the municipality of Atizapán Santa Cruz, State of Mexico, was […]
Mexico Oil Output to Trend Upwards in 2027
(Energy Analytics Institute, Aaron Simonsky, 31.Jul.2018) – Mexico’s oil production will cease to decline in 2025. That’s according to details of a report published by S&P Global Platts Energy Analyst and Consultant Manager Javier DĂaz during an energy forum. DĂaz announced details of projections for Mexican crude oil production until […]
Mexico’s Next President Promises Pemex Investment
(Bloomberg, Amy Stillman, 30.Jul.2018) – Mexico’s incoming president named a new chief executive officer for Pemex and promised government investment of 75 billion pesos ($4 billion) in the oil sector, in a bid to revive the state-owned oil company. Andres Manuel Lopez Obrador tapped longtime political ally Octavio Romero Oropeza, […]
Petrofac Introduces Partner In Mexico
(Petrofac Limited, 30.Jul.2018) — Petrofac Limited signed an agreement to sell 49% of the Company’s operations in Mexico(1)(2), including Santuario, Magallanes and Arenque, to Perenco (Oil & Gas) International Limited (“Perenco”). The transaction is subject to approval by the Federal Competition Commission of Mexico (COFECE), which is expected in Q4 […]
Pemex Reports 2Q:18 Sales Rose 36%
(Pemex, 27.Jul.2018) – The company recorded operating yields of 120 billion pesos During the first quarter of 2018, it achieved an EBITDA of 288 billion pesos and an EBITDA margin 35 Today, PetrĂłleos Mexicanos announced its financial and operating results for the second quarter of 2018, which show a total […]
Pemex to Carry Out Maintenance On El Señor del Mar
(Pemex, 26.Jul.2018) – The works will not affect the production goals established by Pemex for the current year Starting this Saturday, July 28th and until the 4th of August, PetrĂłleos Mexicanos, through Pemex ExploraciĂłn y ProducciĂłn (Pemex Exploration and Production), will perform scheduled maintenance work on the tanker vessel YĂşum […]
Pemex Aims to Reduce CO2 Emissions by 25% by 2021
(Pemex, 26.Jul.2018) – Environmental protection and sustainability, the governing principles of the State-Owned Productive Company’s work The CEO of PetrĂłleos Mexicanos, Carlos Treviño, inaugurated the 7th Environmental Conferences this morning For PetrĂłleos Mexicanos, environmental protection and sustainable development are high-priority values. Therefore, the State-Owned Productive Company expects to reduce its […]
Petroleum Geology of Mexico and the Northern Caribbean
(The Geological Society, 25.Jul.2018) – The Gulf of Mexico is a world class prolific hydrocarbon system. As a result of recent energy reform the Mexican sector of this basin has been open to international companies for the first time through a series of competitive licence rounds. The first phase of […]
Pemex Continues Defense Against Claims by Oro Negro
(Pemex, 24.Jul.2018) – The spread published last night by the company Oro Negro seeks to compensate for a series of strategic mistakes made by that company In connection with the spread that was published on July 19 in the American newspaper The New York Times and signed by Juan P. […]
Mexican Group Unhappy About Delayed Auctions
(Reuters, Dave Graham and Ana Isabel Martinez, 19.Jul.2018) – A decision to delay Mexican oil auctions until after the next president takes office does not augur well for opening the country’s energy sector to private investment, the head of a major business association said on Thursday. The government said on […]
LatAm’s Solar Park Turns Mexican Desert Green
(AFP, 18.Jul.2018) – Driving through the endless dunes and cacti of the Chihuahuan desert in northern Mexico, a shimmering blue field suddenly appears on the horizon — not a mirage, but the largest solar park in Latin America. This silent stretch of sand in the state of Coahuila is the […]
Pemex, Energy Offices to be Moved
(Natural Gas Intelligence, Ronald Buchanan, 13.Jul.2018) – Mexico President-Elect Andres Manuel Lopez Obrador aims to decentralize the government in a sweeping plan to ease the congestion of population, buildings, vehicles and pollution in the “megalopolis” of Mexico City, a strategy likely to impact the country’s energy sector from top to […]
CNH Says Mexico Must Reduce Oil Dependence
(Energy Analytics Institute, Ian Silverman, 13.Jul.2018) – Mexico must reduce its dependence on the United States in regards energy issues. The country can achieve this goal by increasing its refining capacity, reported the daily newspaper La Jornada, citing National Hydrocarbons Commission (CNH by its Spanish acronym) President Juan Carlos Zepeda. […]
Cos. Form Advisory Board for LatAm Gas Conference
(Latin America & Caribbean Gas Conference & Exhibition, 12.Jul.2018) – Influential organisations in the global natural gas industry have united to form an Advisory Board to the Latin America & Caribbean Gas Conference & Exhibition (LGC), taking place in October 2018. The ‘Advisory Board for Gas Development in Latin America […]
FDI in LAC Region Falls for Third Straight Year
(Energy Analytics Institute, Ian Silverman, 12.Jul.2018) – Foreign Direct Investment (FDI) in Latin America and the Caribbean fell for a third straight year in 2017, reported the Economic Commission for Latin America and the Caribbean or CEPAL by its Spanish acronym. The details were revealed in CEPAL’s annual report titled […]
TDI Operating One Rig in Mexico
(Energy Analytics Institute, Jared Yamin, 12.Jul.2018) – Trinidad Drilling Ltd. announced its international joint venture (TDI) currently has two rigs operating, one in Bahrain and one in Mexico. Trinidad Drilling Ltd. – which provides contract drilling and related services in Mexico – revealed the details in an official statement, but […]
Mexico’s Gov’t to Focus on Boosting Fuel Output
(Reuters, 12.Jul.2018) – Mexico’s next energy agenda will prioritize increasing gasoline and diesel production and later decide on possible changes to the industry reform championed by the outgoing government, according to a top aide to President-elect Andres Manuel Lopez Obrador. Rocio Nahle, tapped by Lopez Obrador to be energy minister, […]
AMLO Seeks to End Mexico’s Energy Dependence
(TeleSur, 11.Jul.2018) – Mexico’s national energy demand has become highly dependent on the United States. Mexico’s next energy minister under president-elect Andres Manuel Lopez Obrador has said that the new administration’s energy agenda will be to increase domestic gas and diesel production and reduce dependency on foreign imports. Rocio Nahle, […]
Mexican Refineries a Must for “Energy Security”
(Energy Analytics Institute, Jared Yamin, 10.Jul.2018) – Given Mexico’s dependence on imported fuel, construction of two new refineries in the country “isn’t a business issue, it’s for energy security,” said researcher and hydrocarbons analyst Fluvio Ruiz AlarcĂłn. Just as recently as May 2018, Mexico imported 520,000 barrels per day of […]
Pemex Alerts Against Criminal Group
(Pemex, 10.Jul.2018) – The State-Owned Productive Company filed a criminal report before the Office of the Attorney General to initiate the investigation of this suspected criminal activity. On June 29th, PetrĂłleos Mexicanos filed a criminal claim before the Office of the Attorney General (initials in Spanish: PGR), upon detecting that […]
BP Opens 6 Petrol Stations in Campeche
(Energy Analytics Institute, Jared Yamin, 10.Jul.2018) – British Petroleum extended its operations in the country this week. Today, we have arrived to Campeche, a state with an increase in tourist activity, reported the daily, citing BP Fuels Mexico General Director Alvaro Granada. The British company initiated activities in Campeche with […]
Pemex Alerts on Fraud Via Identity Theft
(Energy Analytics Institute, Jared Yamin, 10.Jul.2018) – Pemex filed a complaint with the Attorney General’s Office demanding the entity investigate the alleged crimes. In its complaint, Mexico’s state oil company PetrĂłleos Mexicanos warned that a criminal group had been seizing the identities of officials in order to carry out the […]
Renaissance Approved to Develop Chiapas Blocks
(Renaissance Oil Corp. 9.Jul.2018) – Renaissance Oil Corp. received final authorizations from the relevant Mexican authorities to proceed with the development program on the company’s three 100% held producing properties in the state of Chiapas. This development program, designed to significantly enhance production along with the exploration of new formations, […]
Renaissance Says Pitepec Block Details Attractive
(Renaissance Oil Corp. 9.Jul.2018) – Renaissance Oil Corp. recently signed a Right of First Refusal (ROFR), for the Pitepec block, adjacent to the north of the Amatitlán block in the Tampico Misantla Basin. “As a result of our comprehensive analysis, the Pitepec block displays all of the attributes of a […]
Pemex Divests Participation in PMV
(Pemex, 6.Jul.2018) – PetrĂłleos Mexicanos divested its participation in PetroquĂmica Mexicana de Vinilo through an agreement with Mexichem. As part of Pemex’s strategy of maximizing value by focusing its resources on strategic assets, the company announced divestment of its participation in PetroquĂmica Mexicana de Vinilo S.A. de C.V. (PMV, Mexican […]
Mexichem to Buy Petroquimica Mexicana de Vinilo Stake
(Reuters, 6.Jul.2018) – Mexican chemicals and plastic pipe maker Mexichem agreed to buy state oil firm Pemex’s stake in chemical manufacturer Petroquimica Mexicana de Vinilo. Mexichem said it would pay roughly $178.7 million for Pemex’s 44.09 percent stake in the company, while Pemex separately said that the sale would help […]
Sapura E&P Signs PSC in Mexico
(Energy Analytics Institute, Ian Silverman, 29.Jun.2018) – Three months after being awarded Mexico’s Block 30, Sapura and its partners sign a PSC. “We are proud to be the only Malaysian-owned company to be awarded during this bidding round, together with our partners. This is a significant milestone for Sapura Energy […]