pemex

Mexico’s national oil company Petróleos Mexicanos (Pemex) plans to ramp up natural gas production by 50% in the next six years, to reach 5.7 Bcf/d by the end of 2024, CEO Octavio Romero Oropeza is forecasting.

The state-centric policies of Mexico’s new government could threaten the autonomy of the country’s energy regulators, according to experts.

Natural gas imports to Mexico from the United States reached unprecedented levels in August, the Energy Information Administration (EIA) reported Thursday.

After more than a decade of trying, and five months on from a resounding election victory, Andrés Manuel López Obrador (AMLO) was scheduled to be sworn into office in Mexico Saturday (Dec. 1), while turnover of the country’s top energy positions continues.

A top-level team of Mexican energy officials and regulators has reached an accord with state oil company Petroleos Mexicanos (Pemex) to allow the producer to renew purchasing liquefied natural gas (LNG), while eliminating penalizations under the previous system, a source close to the deal told NGI.

Proposed legislation to move Mexico’s energy regulatory commission (CRE) and national hydrocarbons commission (CNH) into energy ministry Sener “directly contradicts” the constitution and “would go against every best practice in the book,” according to a Sener official.

Fitch Ratings has revised its outlook for the international issuer default ratings (IDR) of Mexico’s national oil company Petróleos Mexicanos (Pemex) to negative from stable, because of concerns about its direction once the new administration takes office Dec. 1.

Mexican national oil company Petróleos Mexicanos (Pemex) said last Tuesday it successfully placed a 10-year, $2 billion, international bond that will be used to fulfill investment plans and refinance debt.

Mexican President-Elect Andrés Manuel López Obrador’s goal to increase domestic crude oil output to 2.4 million b/d in 2024 from the current average of 1.8 million b/d will be a tall order even under the most favorable circumstances, according to new analysis by the Pulso Energético think tank.