From Reuters Mexico’s national oil company Pemex has made its biggest onshore oil discovery in fifteen years with a find in the eastern state of Veracruz, President Enrique Pena Nieto said on Friday. Tanker trucks of state-owned company Petroleos Mexicanos (PEMEX) are seen in Ciudad Juarez, Mexico October 4, 2017. REUTERS/Jose Luis Gonzalez Pena Nieto said Pemex made the discovery
From MexicoNOW For the first time ever, Texas authorities have issued a drilling permit to a Mexican company for gas and oil extraction in the state. The Texas Railroad Commission, the agency that regulates the energy industry in the state, authorized Petrobal Omega 1 LLC to drill a 5,000-foot (2,524-meter) deep vertical well in the Barnett Shale basin located in
Mexican imports of crude, gas and refined products rising quickly: country’s population growth rate is double OECD average The liberalization of Mexico’s energy sector has the potential for big impacts on American operations, as the country is a major market for U.S. oil and gas. Demand for oil, gas and refined products is growing quickly in Mexico. According to a
Delivering to 8 states – Nuevo Leon, Coahuila, San Luis Potosi, Veracruz, Mexico State, Guanajuato, Tamaulipas and Queretaro BP Energía México, BP’s natural gas marketing and trading arm in Mexico, has started to deliver approximately 200,000 mmbtu/d of natural gas to industrial users, local distribution companies and independent power producers in eight states in Mexico. BP said in a press
Mexico’s Energy Regulatory Commission (CRE) released its first monthly price report on August 18, 2017. As part of its ongoing series of energy reforms that reduce government market controls, the Mexican government converted to a liberalized natural gas market on July 1, 2017. Along with releasing the price index report, Mexico’s pipeline system operator (CENAGAS) launched its natural gas capacity reservation system with
Private companies may investigate Mexican portion of the Eagle Ford Mexico is beginning to recognize the benefits of private investment, and is opening its Burgos basin to development by private companies. This is notable as the Burgos basin has been the domain of state-owned PEMEX since 1938. The Burgos Basin is located directly south of Texas with mostly natural gas
Mexico’s National Center for Natural Gas Control (CENAGAS) conducted its first open season for capacity rights to its natural gas pipeline grid. The auction took place in May, 2017. In “Round 0”, which took place in October, 2016, CENAGAS allocated approximately 4.1 Bcf per day of capacity to PEMEX, Mexico’s Federal Electricity Commission, and a number of independent power producers.
Mexico’s continuing oil and gas reform: 21 of 24 onshore oil and gas blocks auctioned off in Round 2.3 The winners of the Mexican Energy Reform Onshore Bid Round 2.3 were announced today. Of the 24 blocks available through the most recent auction, 21 were sold to investors from North America and Asia, which Mexico’s oil and gas regulator CNH
1.4 billion barrel discovery at 11,000 feet – en route to 14,000 Sierra Oil & Gas, Talos Energy and Premier Oil (ticker: PMO) have announced the discovery of a massive oil field in offshore Mexico, with more than 1 billion barrels of oil recoverable. According to the Financial Times, this is the fifth-largest oil discovery in the world in the
The Mexican government estimates fields in Round 2.3 contain 251 MBOE of recoverable resources International Frontier Resources (ticker: IFR) announced Monday that its 50/50 joint venture company Groupo Idesa, Tonalli Energia, is one of 12 companies and seven consortiums named by Mexico’s energy regulator to qualify to bid in onshore Round 2.3 of Mexico’s energy reform. Other bidders for the
IFR scores approval for Tecolutla evaluation plan; next step–drilling permits Clagary-based International Frontier Resources (ticker: IFR) announced Friday that the company received approval from the National Hydrocarbons Commission (CNH) for its evaluation plan of Block 24 Tecolutla. IFR’s joint venture Tonalli Energia acquired Tecolutla in Round 1.3 of the Mexican energy reform process. The evaluation plan outlines the scheduled work
Mexico awards 10 shallow water GOM blocks in successful 2.1 bid round The National Hydrocarbon Commission of Mexico awarded 10 out of the 15 exploration blocks that were in its Round 2.1 lease auction this week. The awarded leases cover prospective oil and gas acreage in Mexico’s shallow waters in the Gulf of Mexico. According to Haynes and Boones’
