Mexico

OPEC Raises Global Oil Demand Forecast as Mexico’s Pemex Set for Modest Production Uptick

OPEC Raises Global Oil Demand Forecast as Mexico’s Pemex Set for Modest Production Uptick

The Organization of the Petroleum Exporting Countries (OPEC) on Tuesday formally raised its expectations for global oil demand in 2021, citing expectations for a recovery from the pandemic and stronger economic growth. In its Monthly Oil Market Report (MOMR), the cartel projected demand would rise by 5.95 million b/d this year, a nearly 7% increase…

April 14, 2021
Mexico Competition Monitor Urges Against ‘Detrimental’ Changes to Hydrocarbons Law

Mexico Competition Monitor Urges Against ‘Detrimental’ Changes to Hydrocarbons Law

Mexico’s antitrust watchdog Comisión Federal de Competencia Económica (Cofece) has sent a letter to Mexico’s Congress decrying proposed changes to the nation’s Ley de Hidrocarburos, or Hydrocarbons Law. “We recommend the reform to the Hydrocarbons Law isn’t approved,” President Jana Palacios said on Twitter. She suggested the proposed changes would be damaging to competition in…

April 13, 2021
Pemex Seen as ‘Drag’ on Mexico Economic Recovery, though Manufacturing Poised for Strong Year

Pemex Seen as ‘Drag’ on Mexico Economic Recovery, though Manufacturing Poised for Strong Year

Mexican state oil company Petróleos Mexicanos (Pemex) could hinder the country’s economic recovery prospects if the government does not shift course, according to new analysis by Rice University’s Baker Institute for Public Policy. In an issue brief published Friday, authors Tony Payan and José Iván Rodríguez-Sanchez argued that four pillars sustain Mexico’s economy: manufacturing, remittances,…

April 12, 2021
Column: Mexico’s Natural Gas Market Showing its Strength Amid Threats to Investment

Column: Mexico’s Natural Gas Market Showing its Strength Amid Threats to Investment

Editor’s Note: NGI’s Mexico Gas Price Index, a leader tracking Mexico natural gas market reform, is offering the following column by Eduardo Prud’homme as part of a regular series on understanding this process. Prud’homme was central to the development of Cenagas, the nation’s natural gas pipeline operator, an entity formed in 2015 as part of…

April 9, 2021
Mexico Seeking to Join Latin American Peers in Hydrogen Push

Mexico Seeking to Join Latin American Peers in Hydrogen Push

As numerous Latin American nations announce hydrogen projects with an eye toward the global market, Mexico is looking to join the party. “At a federal level, nothing is really happening,” Mexico energy expert Gonzalo Monroy told NGI’s Mexico GPI, “but there are initiatives at the local level.” One of those initiatives was the formal launch…

April 8, 2021
Mexico’s Pemex Aiming for 15% Increase in Natural Gas Production in 2021

Mexico’s Pemex Aiming for 15% Increase in Natural Gas Production in 2021

Mexican state oil company Petróleos Mexicanos (Pemex) is forecasting a base-case scenario increase of natural gas production to 4.19 Bcf/d in 2021 from 3.64 Bcf/d realized in 2020, according to its newly released 2021-2025 business plan. For 2022, Pemex sees production reaching 4.39 Bcf/d before dropping to 4.1 Bcf/d in 2023 and 3.94 Bcf/d in…

April 7, 2021
U.S. Natural Gas Pipeline Exports to Mexico Set to Crest This Summer

U.S. Natural Gas Pipeline Exports to Mexico Set to Crest This Summer

Mexico is expected to see record imports of piped natural gas from the United States this summer as the economy recovers from the impacts of the coronavirus. Energy Aspects analysts forecast cross-border flows from the United States to Mexico this summer would average 6.3 Bcf/d, up 800 MMcf/d year/year, as demand rebounds on Mexico’s national…

April 6, 2021
Mexico Needs Fiscal Framework for Natural Gas Storage, Atlantic Council Energy Chairman Says (Part 2)

Mexico Needs Fiscal Framework for Natural Gas Storage, Atlantic Council Energy Chairman Says (Part 2)

Mexico needs to develop a fiscal framework for natural gas storage, Chairman David Goldwyn of the Atlantic Council Global Energy Center’s Energy Advisory Board told NGI’s Mexico Gas Price Index. “I think the first thing you need is a fiscal framework which compensates people for building and having storage. And so that means you’ve got…

April 1, 2021
Dry Natural Gas Output Down, Fuel Oil Production Up in February for Mexico’s Pemex

Dry Natural Gas Output Down, Fuel Oil Production Up in February for Mexico’s Pemex

Mexican national oil company Petróleos Mexicanos (Pemex) reported a decline in dry natural gas output from its processing centers but an increase in fuel oil production from its refineries in February. Dry natural gas production averaged 2.08 Bcf/d for the month, down from 2.18 Bcf/d in January and 2.19 Bcf/d in February 2020. Fuel oil…

March 31, 2021
New Fortress Energy Signs Deal to Supply LNG for Two Power Plants in Mexico

New Fortress Energy Signs Deal to Supply LNG for Two Power Plants in Mexico

New Fortress Energy Inc. (NFE) said Monday it has signed an agreement to supply natural gas to two power plants owned by Mexican state power utility Comisión Federal de Electricidad (CFE) in Mexico’s difficult-to-reach Baja California Sur (BCS) state. NFE will supply the equivalent of about 250,000-500,000 gallons (20,000-40,000 MMBtu)/d of liquefied natural gas (LNG)…

March 30, 2021
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