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North American Trade Relations Sour; Light Natural Gas Prices Persist – Mexico Spotlight
Natural Gas Prices
Expiring April Natural Gas Futures Fell Below $2 as Downward Price Pressure Endures
The April Nymex natural gas futures contract floundered on its final day as the front month – a third consecutive loss – as the intersection of robust production and waning demand again captured traders’ attention. April futures on Wednesday fell 3.9 cents day/day to close at a monthly low of $1.991/MMBtu. It then rolled off…
March 30, 2023E&P
Pemex Submits Development Plan for Zama Oil, Natural Gas Project Offshore Mexico
Mexican state oil company Petróleos Mexicanos (Pemex) has submitted a development plan to authorities for the long-delayed Zama shallow water oil project off Mexico’s southeastern coast. Zama is expected to produce up to 180,000 boe/d of oil and gas at its peak, equal to over 10% of Mexico’s current production. Pemex is the operator of…
March 29, 2023Natural Gas Prices
Ahead of Expiration, April Natural Gas Futures Falter Again; Spot Prices Slip
Beleaguered natural gas futures fell a second day, hampered again by robust supplies and weakening weather-driven demand. The April Nymex gas futures contract lost 5.8 cents day/day and closed at $2.030/MMBtu. May futures settled at $2.147, down 6.8 cents. NGI’s Spot Gas National Avg. slipped 9.5 cents to $2.470. Production held above 100 Bcf/d on…
March 29, 2023LNG
Mexico Pacific Adds New Offtake Deal, Still Working Toward Sanctioning of LNG Project
Mexico Pacific Limited LLC (MPL) and Shell plc have signed another offtake agreement for MPL’s Saguaro Energía LNG export terminal proposed for Puerto Libertad in Mexico’s Sonora State. MPL on Monday said it has agreed to supply another 1.1 million metric tons/year (mmty) of liquefied natural gas to an affiliate of Shell plc from its…
March 28, 2023Trending News
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