Mexico

LNG Growth Said Creating Competitive Global Natural Gas Markets

LNG Growth Said Creating Competitive Global Natural Gas Markets

Turbulence in natural gas pricing facing buyers across the globe is not a sign of an energy system breakdown but rather is a part of the ongoing creation of competitive markets, according to Carina Energy Consulting’s Sam Andrus.  A veteran trader and analyst with decades of experience in the natural gas business, Andrus spoke on…

October 12, 2021
Mexico Energy Industry ‘Standing on Edge of Cliff,’ Veteran Expert Says

Mexico Energy Industry ‘Standing on Edge of Cliff,’ Veteran Expert Says

“I feel like Mexico is really standing at the edge of a cliff and deep down at the dark bottom of that cliff is Venezuela,” said Marcelo Mereles Gras, veteran Mexico energy expert and partner at HCX Hydrocarbon Exchange, in reference to the legislation proposed by President Andrés López Obrador on Oct. 1 to undo…

October 8, 2021
European Volatility Impacting North American Natural Gas Prices – Mexico Market Spotlight

European Volatility Impacting North American Natural Gas Prices – Mexico Market Spotlight

Volatility continued to rock the Mexican natural gas market this week as North American prices came under the influence of wildly unpredictable Asian and European fundamentals. “Rallying, volatile U.S. benchmarks are creating anxiety in Mexico’s industrial sector, where gas demand is more correlated than ever,” Wood Mackenzie’s Ricardo Falcón told NGI’s Mexico GPI. U.S. benchmarks…

October 7, 2021
OPEC-Plus in Driver’s Seat As Global Energy Crisis Intensifies

OPEC-Plus in Driver’s Seat As Global Energy Crisis Intensifies

Energy shortages and price spikes suggest the world needs more oil to meet global needs in the near term. Just how much more – and how quickly – remains a moving target. With Lower 48 producers hesitant to boost output in the pandemic’s wake, the Organization of the Petroleum Exporting Countries (OPEC) and its allies,…

October 6, 2021
Uproar in Mexico’s Energy Sector as Long-Threatened Constitutional Reform Goes to Vote

Uproar in Mexico’s Energy Sector as Long-Threatened Constitutional Reform Goes to Vote

Ever since coming to power at the end of 2018, Mexico President Andrés Manuel López Obrador has promised to kill the energy reform of his predecessor Enrique Peña Nieto. With his recent proposal to drastically overhaul the energy sector through a constitutional amendment, is this on the cusp of happening? Analysts at political risk group…

October 5, 2021
Natural Gas Price Volatility Testing Trader’s Nerves — Mexico Market Spotlight

Natural Gas Price Volatility Testing Trader’s Nerves — Mexico Market Spotlight

U.S. natural gas futures facing Mexican buyers and sellers were a roller coaster this week as prices jumped early in the week as October rolled off the board followed by a dive on Wednesday when November took over as the front month. “Markets are very, very nervy,” a Mexico City-based trader told NGI’s Mexico GPI.…

September 30, 2021
U.S. Propane Prices Hit Seven-Year High, Squeezing Mexico LPG Market

U.S. Propane Prices Hit Seven-Year High, Squeezing Mexico LPG Market

Wholesale propane prices at the main U.S. natural gas liquids (NGL) hub have reached their highest level in more than seven years amid tight global supply and strong demand, according to the latest government figures. The Energy Information Administration (EIA) said wholesale propane prices at Mont Belvieu, TX, increased to an average of $1.33/gal during…

September 29, 2021
Pemex, Braskem Idesa End Ethane Supply Spat, to Partner on Import Terminal

Pemex, Braskem Idesa End Ethane Supply Spat, to Partner on Import Terminal

Mexican national oil company Petróleos Mexicanos (Pemex) and Braskem Idesa have reached agreement on an ethane supply deal, bringing to an end a year-long dispute that threatened to shutter the largest petrochemicals operation in Latin America. The Brazil-based Braskem SA unit said on Tuesday Pemex would supply 30,000 b/d of ethane to the Etileno XXI…

September 28, 2021
Fatal Platform Fire Dents Pemex Oil, Natural Gas Production in August

Fatal Platform Fire Dents Pemex Oil, Natural Gas Production in August

Oil production in Mexico averaged 1.62 million b/d in August, down from 1.67 million b/d in July and 1.63 million b/d in August 2020, according to the data from upstream regulator Comisión Nacional de Hidrocarburos (CNH). Output by national oil company Petróleos Mexicanos (Pemex) fell from 1.61 million b/d in July to 1.55 million b/d…

September 27, 2021
Project Financing Biggest Challenge in Mexico Energy Market, Entrepreneur Says

Project Financing Biggest Challenge in Mexico Energy Market, Entrepreneur Says

“The biggest challenge for our customers is to get reliable, affordable and efficient financing for their projects,” Asger Victor Hansen, founder of Kauil Energy in Mexico City, told NGI’s Mexico GPI in the latest installment of its interview series.  Hansen, who is a native of Denmark, founded Kauil Energy, a startup solar energy company, in…

September 24, 2021