Borr Drilling announced a change in ownership structure for its joint ventures with Pemex; CRE grants LNG permits for NFE Pacifico Lap in Baja California; Sarens sees potential for wind energy projects despite meager outlook.
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.
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.
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.
Lots of reactions to AMLO’s announcement that Pemex will buy the Deer Park refinery, few are positive, and changes to the fuel industry regulation and structure puts MXN 20B of private investment at risk.
CNH approves Jaguar E&P’s Miguel Hidalgo field transition program, Pemex has plans to develop the Octli field and IEnova targets regasification for growth despite Mexico’s slow energy transition.
AMLO continues on his crusade to return the fuel monopoly to Pemex claiming it is necessary due to corruption, the exploration strategy of Pemex is creating risks for public finances in the future and Pemex will now buy the 50% stake of Shell in the Houston based Deer Park refinery.
Pemex found something; PAN leader pans AMLO energy policy; and Storage caves
Carlos Slim ups family investment in downstream; Mexico holds steady on Paris commitments to save Pemex; Pemex encasing oil pipelines in Hidalgo to help avoid theft; and On track for worst refining year in three decades
Víctor Ramírez, spokesperson for the Mexico, Climate and Energy site, spoke about the challenges that the country has ahead to assure its energy self-sufficiency and sustainability.