Mexico

May Natural Gas Sinks, but Upside Risk Remains; Cash Higher as Pipe Work Cuts Flows

May Natural Gas Sinks, but Upside Risk Remains; Cash Higher as Pipe Work Cuts Flows

Natural gas futures treaded water early Monday as traders looked for fresh direction amid the continued war in Ukraine. After spending much of the afternoon in positive territory, a trio of bearish headwinds eventually left the May Nymex contract nearly unchanged at $5.712/MMBtu. June also barely budged, off two-tenths of a cent to $5.793. Spot…

April 5, 2022
Offtaker Interest Heating Up for Mexico LNG Projects

Offtaker Interest Heating Up for Mexico LNG Projects

Two liquefied natural gas (LNG) export projects planned for Mexico’s Pacific Coast have reached significant milestones in recent days.  The projects comprise Sempra Infrastructure’s Vista Pacífico LNG terminal planned for Topolobampo, Sinaloa, and Mexico Pacific Ltd.’s (MPL) liquefaction project envisioned for Puerto Libertad, Sonora.  Sempra Infrastructure and TotalEnergies SE are expanding their “strategic alliance” in…

April 4, 2022
Mexico Fuel Subsidies Seen Cutting into Oil Export Revenues

Mexico Fuel Subsidies Seen Cutting into Oil Export Revenues

Mexico President Andrés Manuel López Obrador’s pledge to subsidize gasoline prices could partially negate the windfall of high oil prices for state oil company Petróleos Mexicanos (Pemex), according to a new analysis by Fitch Ratings Inc.  Pemex “will benefit from higher oil prices although these pose risks to federal government revenue, since the government has…

April 1, 2022
Despite Strong Push, Mexico Electricity Bill Unlikely to Pass, Says Eurasia’s Petersen

Despite Strong Push, Mexico Electricity Bill Unlikely to Pass, Says Eurasia’s Petersen

Eurasia Group senior analyst Carlos Petersen forecasts that the Mexican electricity reform has very low odds of approval. The bill “would have to be modified and considerably different than it is currently to have any chance of approval,” Petersen told NGI’s Mexico GPI. The constitutional reform is set to be voted on in the nation’s…

April 1, 2022
North American Natural Gas Futures Rising Again Amid Market Volatility – Mexico Spotlight

North American Natural Gas Futures Rising Again Amid Market Volatility – Mexico Spotlight

May as the prompt month for New York Mercantile Exchange natural gas futures opened with a bang Wednesday, rising 27.5 cents day/day and settling at $5.605/MMBtu. June gained 27.7 cents to $5.658. After slumping to start the week, natural gas futures regained momentum similar to last week’s as volatility remained the name of the game…

March 31, 2022
AMLO Gasoline Subsidies Could Negate Oil Price Benefits for Mexico’s Pemex, Says Fitch

AMLO Gasoline Subsidies Could Negate Oil Price Benefits for Mexico’s Pemex, Says Fitch

Mexico President Andrés Manuel López Obrador’s pledge to subsidize gasoline prices could partially negate the windfall of high oil prices for state oil company Petróleos Mexicanos (Pemex), according to new analysis by Fitch Ratings Inc.  Pemex “will benefit from higher oil prices although these pose risks to federal government revenue, since the government has committed…

March 30, 2022
Mexico’s TC Energía Set to Hold Open Seasons on Multiple Natural Gas Pipelines

Mexico’s TC Energía Set to Hold Open Seasons on Multiple Natural Gas Pipelines

Mexican energy regulator Comisión Reguladora de Energía (CRE) has granted TC Energía permits to hold open seasons to gauge demand interest on its pipelines. TC Energía is the Mexico subsidiary of Canada’s TC Energy Corp. The company sees “a wealth of untapped demand” for natural gas in Mexico to be unlocked over the next decade,…

March 29, 2022
Mexico’s Pemex to Operate Zama Oil Discovery Made By ‘Disappointed’ Talos Energy

Mexico’s Pemex to Operate Zama Oil Discovery Made By ‘Disappointed’ Talos Energy

Mexican state oil company Petróleos Mexicanos (Pemex) will be the operator of the Zama oilfield offshore Mexico, which was discovered in 2017 by a consortium led by Talos Energy Inc. The decision culminates one of several high-profile skirmishes between President Andrés Manuel López Obrador’s government and the private energy sector. Talos said Monday it had…

March 28, 2022
All Eyes on War in Ukraine as North American Natural Gas Prices Rise – Mexico Spotlight

All Eyes on War in Ukraine as North American Natural Gas Prices Rise – Mexico Spotlight

After two weeks of downward pressure on prices, North America natural gas futures popped this week on the back of renewed concerns over the war in Ukraine. Natural gas futures finished higher for the third consecutive session on Wednesday. The April New York Mercantile Exchange gas futures contract rose 4.5 cents day/day and closed at…

March 24, 2022
Mexico Facing Supply Shortfalls if U.S. Ramps Up LNG Exports, Fitch Says

Mexico Facing Supply Shortfalls if U.S. Ramps Up LNG Exports, Fitch Says

Mexico’s energy system relies heavily on U.S. natural gas and this could lead to price increases and supply shortfalls if the United States focuses more on the liquefied natural gas (LNG) export market, according to analysts at Fitch Ratings Inc. If the U.S. increases gas exports to Europe as a result of Russia’s invasion of…

March 24, 2022