Claudia Sheinbaum, Mexico’s presidential candidate for the ruling Morena Party, seeks continuity for the national energy sector. In a March 18 speech to commemorate the anniversary of state oil company Petróleos Mexicanos (Pemex), Sheinbaum said her administration would follow the path of the Andrés Manuel López Obrador government and continue to prioritize the dominant role…
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Mexico Natural Gas Production Dips as Pipeline Imports Surge
Mexico’s natural gas production averaged 4.05 Bcf/d in February 2024, compared to 4.29 Bcf/d in the same month a year ago. State oil company Petróleos Mexicanos (Pemex) supplied 3.84 Bcf/d or 95% of the total, down from 4.07 Bcf/d in February 2023, data from upstream regulator Comisión Nacional de Hidrocarburos (CNH) show. Associated gas tied…
Mexico Elections Pit Energy Continuity Against Return to Open Auction Era, Expert Says
Expanding the use of natural gas tapped from Mexico’s abundant reserves would help to reduce the carbon intensity throughout many areas of the economy, said Jeremy Martin, vice president of Energy & Sustainability at the Institute of Americas. During the upcoming elections, however, Mexicans will decide whether they want more of the same or a…
Haynesville Down Four Rigs in Latest Baker Tally as Natural Gas Count Drops
The U.S. natural gas patch dropped four rigs for the week ended Friday (March 22), including a notable reduction in drilling numbers for the gassy Haynesville Shale, according to the latest figures from Baker Hughes Co. (BKR). The United States ended the period with 112 active natural gas-directed rigs, down from 162 in the year-earlier…
Is U.S. Natural Gas Rig Count Rebound Unfolding? Look to Second Half of ‘24, Say Experts
Energy operators were cautiously optimistic during their recent quarterly conference calls that Lower 48 natural gas activity would improve in anticipation of increasing LNG demand, but the startup of more export projects is not yet a certainty, according to some analysts. Evercore ISI’s James West, senior managing director, said the U.S. gas rig count jumped…
How Would a Gálvez Presidency Impact Mexico’s Natural Gas Sector? – Listen Now to NGI’s Hub & Flow
Click here to listen to the latest episode of NGI’s Hub and Flow, in which NGI’s Chris Lenton, senior editor of Mexico and Latin America, sits down with Rosanety Barrios, who heads the energy team for Mexican presidential candidate Xóchitl Gálvez. Barrios details how Mexico’s energy sector, including state companies Comisión Federal de Electricidad (CFE)…
Mexico Presidential Hopeful Gálvez Looking to Transform Nation’s Energy Sector
Opposition candidate Xóchitl Gálvez promises to shake up Mexico’s energy sector if she wins the elections in June. Gálvez would respect the laws of competition as enshrined in the constitution, promote the domestic production of natural gas and renewable energy and work to develop a regional energy strategy, Rosanety Barrios, the head of her energy…
NGI’s 4Q2023 Mexico Natural Gas Market Analyst Takeaways
Mexico faces an election in June amid rising natural gas demand and infrastructure needs. See what NGI analysts gleaned from the recently completed 4Q2023 earnings season. SLB Corp. (SLB): CEO Olivier Le Peuch told investors on SLB’s 4Q2023 earnings conference call that “in the international markets, we expect full year revenue growth reaching the mid-teens…
Haynesville Shale Adds Two Rigs as U.S. Natural Gas Drilling Count Climbs
Including an uptick in Haynesville Shale activity, the U.S. natural gas rig count increased by one to finish the week ended Friday (March 15) at 116, the latest Baker Hughes Co. (BKR) data show. The 116 active natural gas rigs as of Friday compares with 162 rigs running at this time a year ago, according…
Shell to Expand LNG Trading, Carve Out Lower Emissions through AI and Efficiencies
Shell plc upended its energy transition strategy on Thursday, citing lower power sales and stronger demand for natural gas, but it still expects to reach net-zero carbon emissions by 2050. Under pressure from investors to focus on the core oil and natural gas business, the London-based major updated its carbon reduction ambitions in the Energy…