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.
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.
Environmental critics put a lens on the financial institutions backing the NOC’s carbon intensive activities; AMLO’s need for Pemex to operate Zama is at the expense of Mexico; Even with agreements and payments Pemex still owes a significant sum to its suppliers.
Pemex’s failing record on sustainability and the environment make it less attractive to today’s investor; The NOC’s heavily oil production dropped in 2Q21; LNG distributors strike highlights a fractured and informal market.
The CNH announced cuts for its 2022 budget; Coparmex warns LNG price caps will affect investment; Sener shows advances at Dos Bocas refinery.
Italy’s Eni has announced on offshore discovery; Diavaz gets approval for a development plan in the Ébano field; Pemex’s planned location for its Dos Bocas refinery would violate a commitment from the NOC to project the environment.
In July the impact of AMLO’s reshaping of Mexican regulators and disdain for established legal precedents was in full display with Pemex receiving the Zama discovery, cancelled fuel import permits and now a state run LNG distributor.
A bipartisan group of US Senators called on Biden to protect US energy investments in Mexico; New Fortress Energy launches a new LNG terminal; Gas Bienestar already exists and has operated for two years,
A number of industry associations warn that new rules vastly limiting options for importing and exporting hydrocarbons will affect the greater energy sector; A US commercial representative says the awarding of the Zama field to Pemex does not violate the USMCA treaty; Pemex has 180 days to file a report and faces an investigation into its offshore fire.
AMLO’s newest idea to curb increasing gas prices is a state run LPG distributor; Pemex gets approval for the Tlense-1EXP well; AMLO assures an analysis and repair of any eco damage from Pemex’s “eye of flame”.