NGI Mexico GPI

Mexico natural gas prices dropped to $3.37/MMBtu in April, the lowest average monthly price so far this year, according to the latest IPGN monthly index published by the Comisión Reguladora de Energía (CRE). The prices, however, were more than $1 higher compared with April 2020, when the CRE reported prices of $2.13/MMBtu. The CRE used…

BREAKING: U.S. EIA on Thursday reported an injection of 115 Bcf natural gas into storage for the week ending May 21 The June contract finishes Wednesday with 7-cent gain Storms a wildcard for export volume Natural gas futures on Wednesday built on the gains of a day earlier as a favorable shift in the weather-demand…

Private sector oil production in Mexico averaged 61,501 b/d during April, up from 55,682 b/d in April 2020, a 10.5% year/year increase, according to data from upstream regulator Comisión Nacional de Hidrocarburos (CNH). This marks the first time that monthly private sector production has surpassed 60,000 b/d since Mexico’s 2013-2014 constitutional energy reform ended state…

Despite the absence of new near-term catalysts, natural gas futures bounced back on Tuesday as traders sharpened their focus on the looming summer cooling season and ongoing expectations for U.S. export demand to prove strong through 2021. ·        Forecasts pointed to steady summer heat next month ·        Demand for…

Mexico’s state oil company Petróleos Mexicanos (Pemex) will add more refining capacity to its portfolio with the deal announced Monday to purchase Royal Dutch Shell plc’s share in the partnership that owns the Deer Park refinery on the Texas coast. The $596 million transaction was celebrated by Mexican officials as yet another step on the…

Natural gas futures kicked off the trading week Monday on a sour note as forecasted weather demand eased, production ticked up and power burns were light. The June Nymex contract shed 2.0 cents day/day and settled at $2.886/MMBtu. July fell 1.7 cents to $2.960. NGI’s Spot Gas National Avg. rose 5.5 cents to $2.700, however,…

Talos Energy Inc. management on Friday indicated disagreement with the finding that Mexican state oil company Petróleos Mexicanos (Pemex) holds a majority gross interest in the Zama oil discovery offshore Mexico. Zama was discovered by a Talos-led consortium at shallow-water Block 7 in 2017, but the reservoir extends into a neighboring Pemex tract. A third-party…

Widespread heat not yet showing up in weather models Latest EIA stat sets stage for near triple-digit builds in weeks ahead Cash slides as tropical activity being monitored in GOM A rise in production and the sting of bearish storage data sent natural gas futures prices another leg lower on Friday. The June Nymex gas…

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. On June 6, Mexico will vote for the makeup of the lower house of Congress along with numerous governorships and state legislatures.…