Mexico

CFEnergia, the fuels marketing arm of Mexico’s state power utility, the Comision Federal de Electricidad (CFE), has secured a $100 million, 10-year contract to supply 22 MMcf/d of natural gas for a power plant to be built by a consortium of Emerging America and The Abraaj Group, a CFE spokesman told NGI.

Mexico’s state-owned oil and natural gas company Petroleos Mexicanos (Pemex) earlier this month all but sealed its financial plans for next year with a bond issue of 450 pounds sterling (US$650 million) just before the Mexican Lower House completed a marathon sitting that submitted the complete 2018 federal budget for final approval by President Enrique Pena Nieto.

Gulf of Mexico (GOM) vessel supplier Hornbeck Offshore Services Inc. reported increased revenues in the third quarter, but the CEO warned that the market for supply vessels, tankers and barges remains “very challenging,” with operators unlikely to enter into long-term contracts without confidence on commodity prices and rising uncertainty over energy development in Mexico.

The Mexican Energy Ministry (Sener) is dusting off a defunct natural gas storage project in the expectation that a new sponsor will take over its development.

Infraestructura Energetica Nova (IEnova) more than doubled its earnings during the third quarter over the year-ago period, lifted by prior acquisitions and the startup of natural gas pipelines in northwestern Mexico.

Monterrey, Mexico-based industrial conglomerate Alfa is continuing to explore sale options for the U.S. assets of upstream oil and gas unit Newpek LLC, the company said Tuesday during a presentation of third quarter 2017 results.

The operator of Mexico’s main pipeline system, Sistrangas, is conducting a public consultation with natural gas shippers to gauge the market’s appetite for transport capacity and other services, such as storage.

Natural gas industry experts last week warned that efforts to renegotiate the North American Free Trade Agreement (NAFTA) should be handled delicately, but early fears that the Trump administration had a disruptive, protectionist slant that could roil gas markets appear to be unfounded.

Mexico’s sovereign oil fund is looking to contract marketers for the hydrocarbons it receives from operators with production-sharing agreements (PSA).