U.S. West Coast Coal Exports Rise as Mexico to China Buy

October 22, 2014

10/21/14 Bloomberg

energy- oil pumps 2Coal exports from the U.S. West Coast rose to the highest in more than a decade amid demand from Mexico and Asia, providing a market for the power-plant fuel amid lower domestic consumption. Shipments from the western U.S. are up 35 percent to about 5 million tons through the first six months of this year, led by an almost six-fold jump in cargoes leaving San Francisco, according to the Energy Information Administration. That comes even as nationwide exports have fallen 15 percent.

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Mexico upstream bidding to start with shallow-water assets

October 21, 2014

10/20/14 Oil & Gas Journal

natural gas drillMexico plans to publish its technical bidding requirements in November, outlining logistics for the first upstream bid round, according to hydrocarbon officials visiting Houston to update the oil and gas industry on the country’s progress in opening up its assets to non-Mexican companies. On Dec. 21, 2013, Mexico’s sweeping energy reform became law, triggering a revamping of that country’s oil, gas, and electric industries. During Round One, Mexico will offer licenses and production-sharing contracts, ending a decades-old monopoly held by Petroleos Mexicanos (Pemex). Maria de Lourdes Melgar Palacios, Mexico’s undersecretary of hydrocarbons, said the country plans to open its areas in a bidding sequence starting with the shallow water. After that, bidding will involve extra-heavy oil, unconventional assets, and deep water.

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Mexico’s Alfa Plans Capital Increase to Finance Energy Projects

October 21, 2014

10/20/14 Wall Street Journal 

Energy -electricity_transmission_linesMexican conglomerate Alfa SAB said Monday it plans to issue new stock to raise capital as it seeks to take advantage of opportunities opened up for the private sector under Mexico’s new energy laws. Alfa, based in Monterrey, said in a news release that the proposal will be submitted to a shareholder vote on Nov. 4. “We intend to capitalize on opportunities created by Mexico’s energy reform and leverage our experience in shale gas, conventional exploration and production, and power generation and commercialization,” Alfa said.

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Mexico’s Antidrug Push Weighs on Iron-Ore Trade With China

October 20, 2014

10/20/14 Wall Street Journal

Carillo is the second mayor from Michoacan to be killed this year

Mexico’s exports of iron ore have plunged following a crackdown this year by authorities on China-bound shipments linked to drug cartels, Mexican officials said, underscoring the outsize role China plays in the global market for the steelmaking material. Mexico will likely export just 2 million metric tons of iron ore this year, said Mario Cantú, Mexico’s coordinator general of minerals, on the sidelines of an industry conference in the northeastern Chinese city of Tianjin. Last year’s exports totaled 10 million tons, 9 million of which were bound for China.

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Mexican Oil Giant Pemex Looks to Reverse Decline

October 20, 2014

10/17/14 Wall Street Journal

energy - oil barrelsWhen Mexico’s energy overhaul was signed into law in August, Emilio Lozoya, the chief executive of Petróleos Mexicanos, set a goal for the state oil giant that until recently would have seemed unrealistic: to regain its position as Latin America’s biggest company. For Pemex, as the company is known, that means leapfrogging Brazilian oil major Petróleo Brasileiro SA, or Petrobras, which holds the top spot in sales and has expansion plans of its own. Petrobras has been the star of the region’s oil sector for over a decade due to its technical expertise, growing oil production and international portfolio. Pemex’s crude production, meanwhile, has fallen for 10 years straight as the company’s shallow-water fields declined and much of its investment budget went toward squeezing more oil from older fields.

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Pacific Rubiales Gains on Pact With for Mexican Ventures

October 20, 2014

10/17/14 Bloomberg

gas pipeline and gaugePacific Rubiales Energy Corp. (PREC) signed an agreement with Petroleos Mexicanos to study oil and natural gas ventures as Mexico opens its energy sector to private investment for the first time in 76 years. The Bogota- and Toronto-listed company entered into a three-year arrangement with state-owned Pemex to analyze potential projects including deep-water and onshore heavy oil ventures, Pacific Rubiales said today in a statement. The shares fell 1.7 percent to 29,200 pesos at the close of trading in Bogota after earlier surging as much as 7.9 percent. “We expect Mexico will be a significant driver of future growth for Pacific Rubiales,” Chief Executive Officer Ronald Pantin said in the statement.

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Atco Seeks Partners for Mexico Projects in Energy Opening

October 16, 2014

10/15/14 Bloomberg

Energy -electricity_transmission_linesAtco Ltd. (ACO/X) is looking for partners in Mexico as it positions itself to tap the $5 billion in pipeline and power projects to be offered as part of the country’s energy industry opening. The Calgary-based company has been in talks with as many as eight prospective partners as state-owned Comision Federal de Electricidad prepares to auction projects through 2015, James Delano, who heads Mexican operations, said in an interview yesterday. “We didn’t come here to work alone,” Delano said at his Mexico City office after Atco agreed to build a $50 million pipeline in its first venture in the country. “It’s important for us to work with someone who knows the country well.”

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