Mexico

Mexico Reports Record Private Sector Oil Production Driven by Shallow Water Fields

Private sector producers in Mexico reported record oil volumes of 106,120 b/d in August, up from 63,414 b/d a year earlier, according to upstream regulator Comisión Nacional de Hidrocarburos (CNH). Three private sector-operated shallow water fields – all of which were awarded through the Round 1.2 bidding process in 2015 – reported record oil production…

October Natural Gas Finish Strong Amid Global Supply Hits, Powerful Hurricane Ian

Natural gas futures seesawed as a powerful hurricane hammered Florida Wednesday, curbing demand but raising the specter of production interruptions. Market participants also weighed expectations for another stout storage print amid thin trading heading into contract expiration. At A Glance: BREAKING: U.S. EIA reports 103 Bcf natural gas storage injection for week ended Sept. 23…

September 29, 2022

Natural Gas Futures Drop, Cash Prices Climb Ahead of ‘Dangerous’ Hurricane

Natural gas futures dived lower on Tuesday as Hurricane Ian approached the southeastern United States, threatening demand destruction and elevating uncertainty in a thinly traded market heading into prompt month expiration Wednesday. Ongoing energy tumult in Europe tied to Russia’s war in Ukraine added another dose of unease for market participants. The October Nymex gas…

September 28, 2022

López Obrador Touts Mexico LNG Project for Energy Starved Europe 

Mexico President Andrés Manuel López Obrador said during his daily press conference on Tuesday that an LNG terminal could potentially be built in the port of Coatzacoalcos in southern Veracruz to export natural gas to Europe. It’s not the first time López Obrador has talked about shipping gas to Europe as the continent reels from…

September 27, 2022

With Hurricane Ian Approaching, Natural Gas Futures and Cash Prices Advance

Coming off a 12% slump last week, natural gas futures clawed back into the green Monday amid estimates of record output and potential threats to production in the form of a hurricane en route to Florida. The October Nymex gas futures contract gained 7.5 cents day/day and settled at $6.903/MMBtu. November added 2.2 cents to…

September 27, 2022