Our last Hydrocarbons Mexico newsletter was delivered on Tuesday, August 31st, 2021. The web site will stay open for existing subscribers until we see it is no longer being used. Here is why.
August has been a succession of events that depict the declining state of Pemex from its operations to its finances, from accidents to supplier and lender debt; AMLO’s other energy target Gas Bienestar is now approved and starting its first deliveries.
Gas Bienestar has received a flash approval and starts deliveries; the CRE has started to implement its planned propane registry; Pemex’s maintenance budget is down significantly in 2021.
Pemex’s production grew for the second month in a row in July 2021; The NOC expects lost production from last week’s accident to be back online on Monday; Mexican authorities will file charges against a former Pemex boss
Norway’s Equinor will transfer the two blocks it won in the Round 1 and exit Mexico; Pemex gets approval to reduce the size of two assignments; The NOC is holding a tender offer for work on its gas compressors.
The fatal accident and explosion on an oil platform of Pemex will have a big impact on its production figures in the short term; Valero expands with a fuel terminal; Pemex gets approval for changes to its Uchukil exploration program
Hokchi Energy inaugurates a new processing plant in its namesake field and looks to grow production through 2023; Despite rumors it had been cancelled, IEnova confirms its plans to build a fuel storage terminal Colima is still on track; Pemex suffers a fatal accident in the Campeche sound.
Jaguar E&P has received approval from the CNH to drill an onshore exploratory well; One of Pemex main offshore drilling services firms has halted operations over the NOC’s unpaid bills; To sustain projected natural gas growth more storage is needed.
Italy’s Eni gets approval for a boundary well; Talos Energy has prepared a development plan for the Zama field; Propane delivery workers are willing to negotiate to work directly with Gas Bienestar.
Propane margins are down significantly after instituting price caps; Pemex gets a multi-billion dollar infusion for its loss-laden refining business; AMLO policies do nothing to address historical natural gas flaws.