NGI Mexico GPI

Mexican national oil company Petróleos Mexicanos (Pemex) reported a decline in dry natural gas output from its processing centers but an increase in fuel oil production from its refineries in February. Dry natural gas production averaged 2.08 Bcf/d for the month, down from 2.18 Bcf/d in January and 2.19 Bcf/d in February 2020. Fuel oil…

Robust U.S. exports climbed higher Cash prices advanced, boosted by Midwest chill But the May contract failed to find momentum Already strong U.S. exports climbed higher Tuesday, but a weakening weather outlook and anticipation of a storage injection kept natural gas futures in check. The May Nymex contract debuted as the prompt month by falling…

Mexico President Andrés Manuel López Obrador last Friday sent a bill to congress to amend the Hydrocarbons Law and grant the state greater control over granting and revoking permits in the oil, gas and petrochemicals business. López Obrador on Monday said the bill was designed to “remove the sharpest edges” of the 2013-2014 energy reform…

LNG feed gas volumes approached 11.6 Bcf Cash prices advanced amid chilly rains But domestic weather-driven demand is waning Natural gas futures gained ground Monday. April closed out its run as the prompt month amid forecasts for light domestic demand but robust export volumes. The April Nymex contract settled at $2.586/MMBtu, up 2.9 cents day/day.…

New Fortress Energy Inc. (NFE) said Monday it has signed an agreement to supply natural gas to two power plants owned by Mexican state power utility Comisión Federal de Electricidad (CFE) in Mexico’s difficult-to-reach Baja California Sur (BCS) state. NFE will supply the equivalent of about 250,000-500,000 gallons (20,000-40,000 MMBtu)/d of liquefied natural gas (LNG)…

LNG and Gulf Coast industrial demand prove solid Weather-driven demand light across the Lower 48 Spot prices sputter for a third straight day Despite robust U.S. export levels and signs of stronger Gulf Coast industrial demand, natural gas futures drifted lower on Friday, finishing in the red for only the second time during the trading…

“By pausing the renewable energy auctions and pausing the oil auctions, the president has basically given a ‘stay away’ signal to foreign investment in the energy sector,” David Goldwyn, Chairman of the Atlantic Council Global Energy Center’s Energy Advisory Board, told NGI’s Mexico Gas Price Index. Recent policy decisions have “really put into question Mexico’s…

EIA reported a steeper than expected withdrawal LNG export demand remained strong Forecasts called for weak weather demand Natural gas futures rallied on Thursday after a bullish government inventory report and amid consistently solid demand for U.S. liquefied natural gas (LNG) exports. The April Nymex contract climbed 5.2 cents day/day and settled at $2.570/MMBtu. May…

Mexico natural gas prices rose to an astonishing average of $21.37/MMBtu in February, up from $3.39/MMBtu in January, following freezing weather in Texas, according to the latest IPGN monthly natural gas price index published by the Comisión Reguladora de Energía (CRE). The February price, up from the February 2020 average of $2.71/MMBtu, was the highest…