Mexico

Mexico’s natural gas production averaged 4.13 Bcf/d in November, versus 4.17 Bcf/d in October and 4.43 Bcf/d in November 2022. State oil company Petróleos Mexicanos (Pemex) accounted for 3.91 Bcf/d or 95% of the total, down from 4.19 Bcf/d a year earlier, according to the latest data from upstream regulator Comisión Nacional de Hidrocarburos (CNH).…

Experts from Mexico’s energy industry told NGI’s Mexico GPI that they feel optimistic 2024 will bring positive developments to the natural gas sector following several difficult years of uncertainty and unforeseen policy changes. In conversations and exchanges with nine Mexico energy industry experts and leaders in December, the majority expressed cautious or moderate optimism for…

North American natural gas prices showed a little bit of momentum this week, but remained well under the $3 mark. The New York Mercantile Exchange contract for February natural gas ended its first day as the prompt month on Thursday at $2.557/MMBtu. January futures rolled off the board Wednesday 6.9 cents higher day/day at $2.619.…

Mexican conglomerate Grupo Carso SAB has signed a deal with state utility Comisión Federal de Electricidad (CFE) to build and operate a natural gas pipeline in the northwestern portion of the country. The natural gas pipeline would run across the states of Sonora and Baja California for a distance of about 416 kilometers, or around…

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.  For the Mexican natural gas market, 2024 promises to be a defining year. Mexico is going to start exporting LNG early in…

Mexico could have a good year in 2024 despite a degree of uncertainty in Latin America, according to analysts at New York City-headquartered political risk consultancy Eurasia Group. The analyst team led by Latin America managing director Daniel Kerner highlighted Mexico President Andrés Manuel López Obrador’s high and stable approval ratings, “based on a solid…

January Nymex natural gas futures’ four-day winning streak ended Tuesday in losses driven by revised weather outlooks that erased some cooler, supportive weather from forecasts. The front-month contract settled at $2.492/MMBtu, off 1.1 cents day/day. February futures closed at $2.366, off 5.0 cents. NGI’s Spot National Avg. was down 15.0 cents at $2.405. Notably, the…

Mexican conglomerate Grupo Carso SAB has bought into another Mexico oil and natural gas field in shallow waters offshore Campeche. Carso subsidiary Zamajal SA de CV would acquire PetroBal SAPI de CV and its 50% interest in the Ichalkil and Pokoch fields. PetroBal is the oil and gas subsidiary of Mexican conglomerate Grupo Bal. The…

January Nymex natural gas futures extended a relief rally into the fourth trading day Monday as hints of colder January weather provided some support, but weather and fundamental outlooks suggested the upside movement would be short-lived. The front-month contract settled at $2.503/MMBtu, up 1.2 cents from Friday but well off an early high of $2.597.…