Oil

“For the private and public energy sector, these elections could define the rules of the game for the remainder of the administration,” Layla Vargas, general director at Muvoil Consulting and seasoned expert in the Mexican energy sector, told NGI’s Mexico Gas Price Index. Mexico will hold local, legislative and state elections on June 6.  “Currently, we…

Since early March, nine oil and natural gas producers, utilities and pipeline and storage operators have joined a coalition that pledges to reduce collective methane emissions to 1% or lower. Our Nation’s Energy Future (ONE Future), with members in the upstream, midstream and downstream sectors, now numbers 45. As members, each company would report methane…

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…

U.S. petroleum demand climbed higher for a second consecutive week and oil inventories declined in tandem, the U.S. Energy Information Administration (EIA) said Wednesday. EIA said in its Weekly Petroleum Status Report (WPSR) that overall petroleum demand for the period ended May 21 rose 3.5% week/week after jumping 10% a week earlier, lifted by mounting…

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…

The Bakken Shale is coming back strong in the months ahead as producers secure more permits and boosted by improved technologies, according to North Dakota officials. North Dakota Department of Mineral Resources Director Lynn Helms said at the Williston Basin Petroleum Conference in Bismarck, ND, earlier this month that he had signed orders for another…

Medallion Pipeline Company LLC has launched a nonbinding open season through June 25 for the capacity it leases on the Epic Crude Oil Pipeline. The 30-inch diameter Epic oil system extends from Orla, TX, in the heart of the Permian to the Port of Corpus Christi in South Texas. It transports oil from the Permian’s…

Independent exploration and development (E&D) company Infinity Energy Resources Inc. plans to work with the University of Kansas (KU) to evaluate the prolific reserve potential for 11,000 contiguous acres of oil and gas properties in the Central Kansas Uplift. Under the university’s Tertiary Oil Recovery Program (TORP), Infinity would help evaluate the potential resources and…

Tulsa-based Empire Petroleum Corp. said it has acquired 700 oil, natural gas and injector wells from ExxonMobil that run across 40,000 net acres of legacy leaseholds in the Permian Basin of New Mexico. Empire New Mexico LLC purchased the Lea County wells, which are around 15 miles southwest of Hobbs. The wells were operated by…