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.
The Hill – The United States and Mexico are set to begin negotiating a new nuclear power cooperation agreement. The deal would allow American nuclear companies to export their products and technologies to Mexico.
WSJ – The Mexican government launched its second round of oil auctions, offering 15 exploration and production blocks in shallow waters of the Gulf of Mexico as it seeks more private investment to raise the country’s oil reserves and output.
BNA – More than 700 miles of new pipelines in Texas are being built to ship more of the state’s natural gas to Mexico, raising concerns from U.S. environmentalists who want to see low-carbon renewable energy grow instead.
Sentido Comun – Mexico’s government announced a rise of 1.8 and 2.4% for the price of Magna and Premium gasoline respectively, after the weakness of the peso against the dollar and recent increases in international oil markets.
Sentido Comun – Chiapas state could run out of gasoline today because of the sharp shortage that exists after the roadblocks in Oaxaca, preventing the arrival of fuel to the neighboring southern state.
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.
Informador – The price of Mexican crude exports fell 86 cents and was offered at $38.62 per barrel, compared with last Friday, with the increase in volatility and risk aversion generated by the outcome of the vote in the UK for Brexit.
Reuters – Crude oil exports from Mexican state-owned oil company Pemex rose 11.4 percent in May compared to the prior month, while output was largely unchanged, the company said on Thursday.
Reuters – Teacher protests in southern Mexico have caused delays and bottlenecks in transporting fuel from the country’s top refinery in Salina Cruz, and state oil giant Pemex is on alert for new roadblocks.
Reuters – U.S. private equity fund KKR and Mexico’s Pemex are wrapping up details on a $1.2 billion sale and leaseback agreement, according to sources familiar with the operation, as the distressed state-owned oil company scrambles for extra cash.
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.
Business Journal – Mexico’s state-owned power company selected a subsidiary of Houston-based Spectra Energy Corp. and a joint venture led by TransCanada Corp. to build two pipeline projects that will transport natural gas to Mexico.
Express News – San Antonio-based NuStar Energy has pushed back by a year a joint project with Mexico’s state-controlled oil company to build pipelines meant to export liquefied petroleum gases and refined fuels to Mexico later this year.
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.
Offshore – Twenty-one oil and gas operating companies have registered to submit proposals for Mexico’s Phase 4 Round 1 deepwater auction to be held in December. Among those registered are Exxon Mobil Corp., Chevron Corp., Royal Dutch Shell, BP, Statoil and Total.
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.
CBC – With a lack of work in the oilfields of Alberta, Canadian companies big and small are increasingly looking to Mexico to get a stake in the billions of dollars being spent in the country’s newly opened energy sector.
Sentido Comun – The Ministry of Energy announced the creation, in conjunction with University of Calgary in Canada, an investment of 150 million pesos ($8.2 million) to boost research on the energy industry.
Reuters – The head of retail fuel company Gulf Oil International’s local unit said he believes Mexico could speed up the opening of its fuel sector by liberalizing gasoline and diesel prices ahead of a 2018 deadline.