pemex

OPEC Sees Mexico Oil Output Dipping in 2023

OPEC Sees Mexico Oil Output Dipping in 2023

OPEC is forecasting full-year liquid hydrocarbons production of 2.0 million b/d for Mexico in 2022, flat versus 2021, followed by a slight decline in 2023.  Incremental production in 2022 “is expected to be driven by foreign-operated fields, while minor growth” is also expected in Petróleos Mexicanos (Pemex) operated fields, OPEC said in its latest Monthly…

October 17, 2022
North American Natural Gas Exports Set to Rise by 46% as Mexican Projects Advance

North American Natural Gas Exports Set to Rise by 46% as Mexican Projects Advance

Mexico is unlikely to substantially increase its natural gas production over the next five to six years, according to upstream regulator Comisión Nacional de Hidrocarburos (CNH). In its latest “prospectiva” or outlook for oil and natural gas output, the regulator modeled high, low and medium production growth scenarios for each hydrocarbon. The high case scenario…

October 10, 2022
Oil, Gas Industry Expresses Concern Over Changes at Mexico’s Upstream Regulator

Oil, Gas Industry Expresses Concern Over Changes at Mexico’s Upstream Regulator

Mexico’s Hydrocarbon Companies Association (AMEXHI) has urged the country’s Senate to expedite the appointment of a new head at upstream regulator Comisión Nacional de Hidrocarburos (CNH). Former head Rogelio Hernández’s resignation was made public last week, meaning the CNH now has three active members. By law, the CNH requires four commissioners for duties to be…

September 12, 2022
Mexico’s Pemex Reduces Natural Gas Flaring, Ups Production in Q1

Mexico’s Pemex Reduces Natural Gas Flaring, Ups Production in Q1

Executives at Mexico’s national oil company Petróleos Mexicanos (Pemex) said in an earnings call Monday that work toward improving natural gas use and lowering emissions is starting to pay off. Pemex reported a 42% improvement in natural gas capture in the first quarter. The company was able to use 91.6% of gas produced, flaring off…

May 2, 2022
Mexico’s Pemex Upping Capex in Bid to Bolster Natural Gas, Oil Production

Mexico’s Pemex Upping Capex in Bid to Bolster Natural Gas, Oil Production

Mexico’s Petróleos Mexicanos (Pemex) had yet another disastrous financial result in the fourth quarter, but executives in a conference call said they were buoyed by upstream results and were planning to spend more this year to get more oil and gas out of the ground. Capital expenditures (capex) for this year are pegged at “levels…

March 1, 2022
Constitutional Reform Unlikely in 2022, but Mexico Energy Sector Risk Still High, Analysts Say

Constitutional Reform Unlikely in 2022, but Mexico Energy Sector Risk Still High, Analysts Say

For this upcoming year, Mexico President Andrés Manuel López Obrador’s proposed constitutional energy reform – whether it gets enough votes to pass or not – will set the tone of his political agenda, according to analysts and experts in the field.

January 10, 2022
Mexico Throws Financial Muscle Behind Pemex, Further Lowers Profit-Sharing Duty

Mexico Throws Financial Muscle Behind Pemex, Further Lowers Profit-Sharing Duty

Mexico’s government is doing all it can to boost the fortunes of troubled state oil and gas giant Petróleos Mexicanos (Pemex), with the Finance Ministry again reducing the firm’s profit-sharing duty and injecting $3.5 billion to reduce debt. “Pemex is strategically important for the country, not only in its function as a provider of goods…

December 7, 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
Pemex Fire, Hurricane Ida Dent OPEC Supply Forecast as Oil Demand Gathers Momentum

Pemex Fire, Hurricane Ida Dent OPEC Supply Forecast as Oil Demand Gathers Momentum

Two events in the Gulf of Mexico have dented the latest 2021 supply forecast by the Organization of the Petroleum Exporting Countries (OPEC). In the cartel’s latest Monthly Oil Market Report (MOMR), oil supply outside of the OPEC countries for 2021 was revised lower by 0.17 million b/d from the previous forecast because of a…

September 20, 2021
Natural Gas Futures Start Week with Big Rally After Volatile Session; Cash Strengthens

Natural Gas Futures Start Week with Big Rally After Volatile Session; Cash Strengthens

Big fluctuations continued along the Nymex natural gas futures curve early Monday as traders wrestled with hotter shifts in the latest weather models and a step up in production. The September contract, which rolls off the board later this week, settled at $3.945, up 9.4 cents on the day. October also picked up 9.4 cents…

August 23, 2021