Category Archives: Energy

Mexico spends $1 billion to lock in oil export prices

Financial Times – Mexico has spent more than $1 billion to lock in prices for oil exports next year to help protect public finances as its underperforming economy faces intensifying international headwinds, including the timing of a US rate rise and the US elections. The government’s annual hedging program seals in a price of $42 a barrel for 2017.

https://www.ft.com/content/3674cf38-6e0b-11e6-a0c9-1365ce54b926

Bidding for 12 exploration blocks approved

WSJ – Mexican oil regulators on Tuesday approved a bidding process for a dozen exploration and production areas containing mostly natural gas, the sixth auction since the country opened the industry to private and foreign investment. The auction includes 12 onshore blocks, nine in the Burgos basin of northern Mexico and three in the south of the country.

http://www.wsj.com/articles/mexico-oil-regulators-approve-bidding-process-for-12-exploration-blocks-1471990521

Preserving Pemex reforms in post-Pena Nieto era

Platts – Enrique Peña Nieto is scrambling to save the legacy of his much-lauded reform of Mexico’s oil industry as the doors of Mexico’s political cycle close on the president amid electoral defeats, political violence and a tough global environment for the oil industry. Meanwhile, Pemex chief Jose Antonio Gonzalez Anaya seeks to defend the formerly invulnerable castle of the state oil company from what some fear could be imminent collapse.

http://blogs.platts.com/2016/07/25/pemex-reforms-post-pena-nieto-mexico/

Mexico fuel markets open, but imports aren’t flowing

Bloomberg – Mexico enacted legislation in April allowing companies other than state-owned Petroleos Mexicanos to import fuel for the first time since the 1930s. Mexico has since awarded permits to import a combined 853 million barrels of gasoline and diesel. No fuel has been brought in using those 12-month permits, however.

http://www.bloomberg.com/news/articles/2016-06-28/mexico-s-fuel-market-is-open-but-the-imports-aren-t-flowing

TransCanada, Sempra win bid for underwater pipeline

EcoWatch – TransCanada, owner of the proposed Keystone XL pipeline currently being contested in federal court and in front of a North American Free Trade Agreement (NAFTA) legal panel, has won a $2.1 billion joint venture bid with Sempra Energy for a pipeline to shuttle gas obtained from fracking in Texas’ Eagle Ford Shale basin across the Gulf of Mexico and into Mexico.

https://ecowatch.com/2016/06/16/transcanada-gulf-coast-pipeline/

Mexico gets first non-Pemex gas stations in 80 years

AP –  Mexico’s ubiquitous Pemex gas stations now have competition for the first time in nearly eight decades. Two companies have collectively opened three gas stations under their own brands, breaking one of the state-owned petroleum company’s last monopolies.

http://latino.foxnews.com/latino/money/2016/06/09/mexico-gets-first-non-pemex-gas-stations-in-80-years-us-gulf-oil-to-open-4-soon/

Wood Group, Grupo Diavaz form joint venture

Energy Voice – Wood Group Mustang has agreed a joint venture with Grupo Diavaz, a Mexican oil and gas operator and services company. The pair launched Mustang Diavaz, which will provide engineering, procurement and construction management services to onshore and offshore facilities, and pipelines for the upstream and midstream oil and gas markets in Mexico.

https://www.energyvoice.com/oilandgas/americas/111815/wood-group-forms-jv-mexico/