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Downstream & Pricing

Diavaz signs over Ebano contract; Hokchi Evaluation Approval; Pemex refining down — HCM for 2021 06 17

Diavaz signs over its participation in the Ébano with Pemex for a Banorte loan; Hokchi Energy gets approval for an offshore evaluation program; Pemex posted the lowest refining output of 2021 in April.

Wednesday, June 16th, 2021

Pemex Ek-Balam Approval; Ixachi continued production; CFE bunker fuel use drops — HCM for 2021 06 16

Pemex is set to move forward with a significant investment in the Ek-Balam offshore field; the NOC will continue to produce at the Ixachi field; CFE has decreased its use of bunker fuel which brings implications for the NOC.

Tuesday, June 15th, 2021

ExxonMobile here to stay; Pemex nixes Zama well; Cofece-CRe dispute — HCM for 2021 06 14

Despite the regulatory and political challenges, ExxonMobil is in Mexico to stay; Pemex will not drill Zama well; Supreme Court to hear Cofece-CRM dispute.

Sunday, June 13th, 2021

Lukoil to drill first well; Pemex shifts in Uchukil, Samaria; Deer Park better than Dos Bocas — HCM for 2021 06 11

Russian oil producer Lukoil is set to drill its first exploration well in Mexico; Pemex gets approval to adjust plans for Uchukil and Samaria; Analysts see the upside in Deer Park compared to Dos Bocas.

Friday, June 11th, 2021

Investment discussion at AMLO/Harris summit; Senators file against Hydrocarbons Law; NOC hurricane prep — HCM for 2021 06 10

Foreign investment and economic recovery was a central theme discussed at the summit between AMLO and US VP Kamala Harris; PRI senators filed against the Hydrocarbons Law with the Supreme Court; Pemex says it is ready for the hurricane season.

Wednesday, June 9th, 2021

AMLO promises union contract review; ENI Exploratory well; Saline Cruz Sabotage — HCM for 2021 06 09

AMLO says once an election in the Pemex workers’ union occurs there will be a review of its collective contract; ENI will invest nearly US$ 30M into an offshore exploratory well; AMLO says the Salina Cruz refinery has been a target of sabotage.

Tuesday, June 8th, 2021

CRE gas regulations; Petrochemical opportunity missed; Deer Park survey — HCM for 2021 06 08

AMLO’s political pals want the CRE to have a more direct role in regulating propane prices; An opportunity for petrochemicals is being passed over for refining says one columnist; the general public agrees with Pemex’s Deer Park purchase although the experts say otherwise

Tuesday, June 8th, 2021

Pemex investment down; Deer Park import doubts; Pemex resists cleaner energy trends — HCM for 2021 06 07

Under AMLO, Pemex investments are actually lower than in the past; Questions surface around the legal requirements for fuel from Deer Park; while international trends push towards cleaner fuels Pemex stays stuck in its ways

Monday, June 7th, 2021

Pemex fuel production down, imports up; No more than 2M for the NOC; Roma exploratory well approved — HCM for 2021 06 03

Pemex was forced to import more fuel to cover for a 25% drop in output in April; AMLO assures the NOC will produce no more than 2Mbd; Roma Energy gets an exploratory well approved by the CNH

Wednesday, June 2nd, 2021

Pemex April crude production; Pemex fuel pricing restored, Less stolen fuel in 2020– HCM for 2021 06 02

Production of crude and equivalent stayed nearly even in April 2021, Mexican judges also strike down AMLO re-monopolization of Pemex fuel distribution; A noted drop in fuel robbery reported by the NOC.

Tuesday, June 1st, 2021