Ronald Buchanan, was born and bred in Glasgow, Scotland. Having launched a career in journalism with Scottish newspapers, he left for London to join The Guardian and, briefly, the Financial Times. From London, he moved to Mexico, where he wrote for Business Week, the Financial Times and other publications, several of them Mexican.
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Articles from Ronald Buchanan
Producers that have been awarded blocks in Mexico’s historic oil and natural gas upstream auctions should not rest on their laurels, said Talos Energy LLC CEO Tim Duncan.
As Mexico’s natural gas imports from the United States grow, pent-up demand remains in parts of the country that lack the necessary pipelines, according to Marcelino Madrigal a commissioner at Mexico’s Energy Regulatory Commission (CRE).
In a day of tooth-and-claw bidding, a clear winner emerged Wednesday from the second and third auctions of Round Two of Mexico’s energy reform, which were dominated — for the first time — by natural gas-rich blocks.
Seven of 10 exploration blocks found bidders Wednesday in what was the first upstream auction featuring natural gas since Mexico’s 2014 energy reform.
The Mexico unit of France-based Engie plans what amounts to a natural-gas offensive to attack the liquid petroleum gas (LPG) stronghold of Cancun, by far the nation’s largest tourist destination and a principal pole of the nation’s economic development.
Mexico’s initial upstream auctions, including round 2.1 held in mid-June, earned billions for the country in the first upstream auctions, but to date, natural gas has played only a minor role. That may change with two auctions scheduled in July, with gas potentially breaking out as a star performer.
Ten of the 15 shallow-water blocks on offer in the first auction of round two of Mexico’s 2013-2014 energy reform were snapped up Tuesday in what at times was fierce bidding.
Natural gas prices have been freed throughout Mexico, the nation’s energy regulator Comision Reguladora de Energia (CRE) declared in a decree published Friday in the Diario Oficial, the equivalent of the U.S. Federal Register.
Mexico produced 5.334 Bcf/d of natural gas in April, state oil and natural gas company Petroleos Mexicanos (Pemex) reported, a drop of 9.9% from the 5.921 Bcf/d recorded a year ago.
As temperatures rise in what promises to be a hot summer in Mexico, the country’s production of natural gas — the fuel of choice for the nation’s power plants — has been dropping by 10% year-on-year in recent months.