Mexico

All eyes in Mexico’s energy sector were on Washington, DC on Thursday as President Biden hosted Canadian Prime Minister Justin Trudeau and Mexican President Andrés Manuel López Obrador in the first summit of its kind since 2016. Ahead of the so-called “Three Amigos” summit, the Canadian Chamber of Congress, Mexican business group Consejo Coordinador Empresarial…

Natural gas futures careened on Wednesday amid profit-taking and expectations for a relatively plump storage increase for mid-November. The December Nymex contract dropped 36.1 cents day/day and settled at $4.816/MMBtu. January fell 35.6 cents to $4.914. At A Glance: BREAKING: U.S. EIA on Thursday reported an injection of 26 Bcf natural gas into storage for…

Braskem SA reported record-high ethane imports during the third quarter to its polyethylene complex in Coatzacoalcos, Mexico, and the figure is set to continue growing. Ethane imports to the Braskem Idesa facility — among the largest petrochemicals plants in Latin America — reached a record 22,400 b/d in September, Braskem management said earlier this month…

A proposed regulatory overhaul of Mexico’s energy sector would cause havoc for private power generators as all of their supply contracts with non-state offtakers would be cancelled, according to analysts at Fitch Ratings Inc. Through a bill sent to the lower house on Sept. 30, President Andrés Manuel López Obrador is seeking to restore the…

Progress proved fleeting for natural gas futures, with prices slumping Friday amid weather demand uncertainty, elevated production and renewed Russian vows to ramp up supplies to Europe, a key destination for U.S. exports. The December Nymex contract declined 35.8 cents day/day and settled at $4.791/MMBtu. January fell 36.5 cents to $4.880 on Friday. Futures had…

U.S. natural gas spot prices are set to average $5.53/MMBtu over the next few months as near-average winter inventory draws and higher liquefied natural gas (LNG) exports figure to help keep prices elevated into early 2022, the Energy Information Administration (EIA) said Tuesday. In its latest Short-Term Energy Outlook (STEO), EIA reported an average Henry…

Following a tricky 2021 that has included a major disruption to its natural gas supply, the Mexican government is advancing plans for strategic storage. Speaking Tuesday at the U.S.-Mexico LDC Forum in San Antonio, TX, Gadex consultant Eduardo Prud’homme said “good discussions” were underway with a developer to build a salt dome storage facility in…

Despite a benign government inventory report, natural gas futures fell a fourth consecutive session on Wednesday as traders contemplated unfavorable mid-range weather outlooks and the potential for a pullback in demand for U.S. exports. At A Glance: U.S. forecasts show weak start to winter Russia ups gas supply to Europe EIA prints 7 Bcf injection…

Natural gas futures fell again Monday as forecasts for more mild fall weather and light demand eclipsed robust liquefied natural gas (LNG) levels. The December Nymex contract settled at $5.186/MMBtu, down 24.0 cents day/day. January fell 22.4 cents to $5.305. At A Glance: Futures extend losing streak Forecasts call for a mild November Cash prices…