San Antonio Business Journal – As part of the first round of its energy reforms, Mexico has placed 14 shallow-water oil drilling sites in the Bay of Campeche up for lease and approved seven companies to receive access to data on the sites.
Financial Times – The collapse in oil prices will force Mexico to dump some shale fields from its historic private oil tenders this year, but interest in the first areas to be auctioned — shallow-water fields where production costs are less than $20 per barrel — remains firm.
El Dario de Sonora – At least 20 percent of the domestic market of gasoline and diesel is in the hands of organized crime, according to the Mexican Association of Entrepreneurs Gasolineros. They mainly sell the fuel at lower prices along rural highways and roads.
Reuters – Mexico will publish between March and April the new number of fields of shale and other more expensive oil and gas deposits to be tendered under an energy reform finalized last year.
Sentido Comun – Abengoa, a Spanish energy, telecommunications and infrastructure firm, said it plans to invest about $5 billion in the next three years in Mexico as the energy sector opens to private capital.
Bloomberg – Oil prices, which have fallen over 50 percent since June, have to fall further and remain at that lower level during the first half of the year for the market to find a balance between supply and demand, said the Goldman Sachs Group.
AP – Mexico’s finance secretary says plunging oil prices might delay bidding on some oil and gas exploration and production contracts, such as shale deposits that are more challenging in terms of access or technology.
Reuters – Deputy Finance Minister Fernando Aportela on Thursday said he expects budget planning for 2016 to include a lower oil price estimate if prices continue their current trend.
Financial Times – Is there no end to the historic firsts Mexico is racking up in debt markets? Just a couple of days after selling sovereign bonds at its lowest ever rates, Pemex has just sold $6 billion in international bonds.
Sentido Comun – Petroleos Mexicanos said it established an emerging strategy to regulate fuel delivery service stations in some central and western states where pipeline thefts have cut supplies.
Bloomberg – Heavy Canadian crude sold at the smallest discount to Maya in four years as new pipeline and rail capacity allowed record volumes to flow south and compete with imports shipped in from the Gulf of Mexico.
EFE – Spain’s Iberdrola, Gamesa and Acciona said they plan to invest nearly $14 billion in Mexico’s energy industry between 2015 and 2018.
Milenio – Public and private investment for wind power generation projects between 2015 and 2018 will be $14 billion, triple the amount allocated in the past eight years.
Reuters – Crude oil prices hit their lowest in almost six years on Tuesday in a market readying for further falls, as a big OPEC producer stood by the group’s decision not to cut output to tackle a supply glut.
Bloomberg – More than 10,000 people working at Mexican oil service companies have been laid off as state-owned Petroleos Mexicanos cut contracts in the face of the global slump in crude prices. More job losses are expected.
Most of the companies are based in Ciudad del Carmen, on the Campeche Bay in the Gulf of Mexico, and were told last week that contracts wouldn’t be renewed with Pemex, as the world’s ninth largest oil producer is known.
Job losses could rise to 50,000, Gonzalo Hernandez, secretary at the Ciudad del Carmen Economic Development Chamber, said in a phone interview.
EFE – Spain’s Abengoa has been awarded a $1.55 billion contract to build and operate a 924 MW combined-cycle power plant in Ciudad Juarez, a project that will boost the supply of electricity in northern Mexico.
Reuters – Mexican state power company CFE has awarded a $386.4 million contract to build a 240 Megawatt (MW) hydroelectric power station in southern Mexico to a consortium comprising a unit of China’s Sinohydro Corp.
AP – Mexico’s state oil company wants to import about 100,000 barrels of light U.S. crude a day to mix with this country’s heavier oil as a way to improve refinery processes. While the deal has not gone through, it is raising hackles in Mexico.
Reuters – A consortium including an energy company controlled by billionaire Carlos Slim won a contract to build a 230 km (143 mile) pipeline to supply gas to central, northern and western Mexico.
The Yucatan Times – A new pipeline will soon carry natural gas from fields in the Gulf of Mexico to shipping yards along the Pacific Ocean. Construction of a fleet of ships for the project has begun.