NGI Mexico GPI

Natural gas prices in Mexico held steady during June, averaging 74.739 pesos/gigajoule (GJ) or $3.882/MMBtu, versus 74.311 pesos/GJ in May, authorities said.

Natural gas futures pulled back slightly during an uneventful session Friday, with prices stable one day after rallying on bullish government storage data. In the spot market, the mercurial SoCal Citygate extended its run higher ahead of more heat expected in California, while points throughout the Gulf Coast and Texas saw modest gains; the NGI National Spot Gas Average added 3 cents to $2.71/MMBtu.

The international fuel marketing affiliate of Mexican state power company Comision Federal de Electricidad (CFE) is seeking supply of up to 1.15 Bcf/d of natural gas into a pipeline system that connects with transmission networks across the border in Chihuahua state.

Not quite a wake-up call, but government storage data showed an injection well below expectations Thursday, shaking up the natural gas futures market and prompting a rally as bearish production took a backseat for at least one session.

Mexico’s National Hydrocarbons Commission (CNH) postponed two onshore bid rounds and a farmout tender for operating stakes in upstream blocks held by national oil company Petróleos Mexicanos (Pemex) until the first half of 2019.

The prospect of low stockpiles heading into the winter hasn’t bothered natural gas futures traders as of late, a trend that continued Wednesday as prices fell ahead of government storage data expected to show another leaner-than-average build. In the spot market, SoCal Citygate turned in another day of volatility, gaining big as most other regions pulled back; the NGI National Spot Gas Average dropped 4 cents to $2.70/MMBtu.

The International Energy Agency (IEA) praised Mexico’s 2013 energy reform as a model for the world to follow in a new report.

Natural gas futures continued their recent slide Tuesday as strong production and cooler weather trends conspired to help drag down prices. In the spot market, more volatility in Southern California and retreating prices in the Northeast headlined a day of generally small adjustments; the NGI National Spot Gas Average gave back a penny to finish at $2.74/MMBtu.

A Mexican-Norwegian consortium has won an integrated oilfield services (OFS) contract with Petroleos Mexicanos (Pemex) for two mature onshore areas in the southern state of Veracruz.