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Column: Mexico Federal Budget Shows Pemex and CFE Come First

Column: Mexico Federal Budget Shows Pemex and CFE Come First

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. The opinions and positions expressed by Prud’homme do not necessarily reflect the views of NGI’s Mexico Gas Price Index. Although Mexico’s energy…

September 17, 2021
Excelerate Looks to Import More LNG to Brazil amid Historic Drought

Excelerate Looks to Import More LNG to Brazil amid Historic Drought

Floating specialist Excelerate Energy LP has reached a deal to import liquefied natural gas (LNG) to Brazil as the nation continues to deal with rising power demand amid a historic drought that has left hydroelectric reservoirs depleted. Under an initial deal struck with state-owned Petróleo Brasileiro SA, aka Petrobras, Houston-based Excelerate would deploy one of…

September 7, 2021
Mexico’s Pemex Falling Short of Production Targets at Flagship Natural Gas Fields

Mexico’s Pemex Falling Short of Production Targets at Flagship Natural Gas Fields

Mexico’s highly touted Ixachi and Quesqui natural gas fields are producing below their stated targets amid historically high natural gas prices, according to the latest data from upstream regulator Comisión Nacional de Hidrocarburos (CNH). Discovered in 2017 by state oil company Petróleos Mexicanos (Pemex), Ixachi had been forecasted to reach peak production of 638.5 MMcf/d…

September 2, 2021
China’s Sinopec, CNPC Discover More Oil, Natural Gas Resources

China’s Sinopec, CNPC Discover More Oil, Natural Gas Resources

China Petroleum & Chemical Corp., aka Sinopec, has reportedly announced another oil and natural gas discovery in the Tarim Basin.  The state-owned company said on Chinese social media that it had discovered 100 million tons of oil and gas resources in the legacy-producing region, according to Reuters. That’s roughly the equivalent of 733 million bbl…

August 27, 2021
Pemex CEO Says Production Partially Restored After Fatal Offshore Fire, as Two Workers Remain Missing

Pemex CEO Says Production Partially Restored After Fatal Offshore Fire, as Two Workers Remain Missing

Mexican state oil company Petróleos Mexicanos (Pemex) had restored 71,000 b/d of the roughly 421,000 b/d of oil production knocked offline by a fatal offshore platform fire as of Tuesday evening, according to CEO Octavio Romero Oropeza. In a video message posted late Tuesday night, Romero said Pemex expected to restore an additional 110,000 b/d…

August 25, 2021
Ecopetrol Shows Strong Permian Results, Rebound from Colombia Disruptions

Ecopetrol Shows Strong Permian Results, Rebound from Colombia Disruptions

Colombia’s Ecopetrol SA saw its production take a hit in the second quarter because of social unrest in the country but management foresees a strong recovery this year. Ecopetrol was also boosted in the second quarter by its joint venture (JV) with Occidental Petroleum Corp. in the Permian Basin’s Midland formation in West Texas. “Social…

August 9, 2021
Pemex Posts Rare Quarterly Profit as Oil Prices Swing Upward

Pemex Posts Rare Quarterly Profit as Oil Prices Swing Upward

Mexico’s state oil company Petróleos Mexicanos (Pemex) posted a rare 14 billion-peso ($719 million) profit in the second quarter thanks to higher sales revenue. The oil giant had posted a $2 billion loss in the year-ago quarter.  Oil production rose to 1.736 million b/d in the second quarter compared with 1.673 million b/d in the…

July 28, 2021
Mexico Oil, Natural Gas Production Rises in June

Mexico Oil, Natural Gas Production Rises in June

Natural gas production in Mexico totaled 3.87 Bcf/d in June, up from 3.59 Bcf/d in June 2020, according to the latest data from upstream regulator Comisión Nacional de Hidrocarburos (CNH). The figure was also up compared to May, when Mexico produced 3.84 Bcf/d. State oil company Petróleos Mexicanos (Pemex) supplied 3.63 Bcf/d of the total…

July 27, 2021
​​Mexico to Continue Nationalistic Energy Agenda Through 2024, Expert Says

​​Mexico to Continue Nationalistic Energy Agenda Through 2024, Expert Says

“The electricity bill, the purchase of the Deer Park refinery in Houston and the granting of Zama to Pemex hint that President López Obrador is more than determined to ramp up his energy nationalism stance during the next three years,” Adrián Duhalt, postdoctoral fellow in energy studies at Rice University’s Baker Institute and seasoned expert…

July 16, 2021
Listen Now: Latest NGI’s Hub & Flow Podcast Covers Top Trends in Mexico Energy Market

Listen Now: Latest NGI’s Hub & Flow Podcast Covers Top Trends in Mexico Energy Market

Click here to listen to the latest episode of NGI’s Hub & Flow podcast in which the fundamentals impacting the Mexican natural gas market are explored. In this latest podcast, NGI’s Mexico Gas Price Index Senior Editor Christopher Lenton speaks to renowned Mexico energy expert Gonzalo Monroy about the hottest topics impacting the natural gas…

July 16, 2021
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