Big New Mexico wind energy project faces public hearing

11/20/2017 The Seattle Times

A proposed eastern New Mexico wind energy project that will be the subject of a public hearing next week has a large group of backers but also faces a substantial number of opponents, including staff at the state’s utility regulation commission.

Hundreds of wind turbines would be erected near the town of Portales close to the Texas border under the proposal by Minnesota-based energy giant Xcel Energy, the Santa Fe New Mexican reported Sunday.

Xcel subsidiary Southwestern Public Service Co. has said the project would create hundreds of construction jobs and more than two dozen permanent ones when it is completed.

Read more…

Advertisements

Mexico Oil Exports Up, Economy Seen Bouncing Higher in Fourth Quarter

11/20/2017 NGI

Mexico’s economy contracted an annualized 0.8% in the third quarter, partly because of two major earthquakes, but economists are predicting a bounceback in the fourth quarter. Among other things, oil exports increased by almost 21% in the first nine months from the same period of 2016, and overall industrial production is rising.

The consensus growth forecast for 2017 held steady in October at 2.1%, according to the Federal Reserve Board of Dallas. Petroleum exports improved, and employment growth remained strong, economists said in a monthly update issued last week.

Manufacturing exports rose 6.6%, and oil exports were up 20.9% in the first nine months of 2017. Mexico’s industrial production, which includes manufacturing, construction, oil and gas extraction, and utilities, grew 0.3% in August.

Read more…

Mexico Accelerates Fuel Opening to Jump-Start Investment

11/16/2017 Bloomberg

oil wellMexico is speeding up a countrywide liberalization of fuel prices by a month in a bid to kick-start lagging private investment.

Mexico’s energy regulatory commission, CRE, approved on Thursday bringing forward an end to government-set pump prices in the southeastern zone comprised of Campeche, Quintana Roo and the Yucatan, known as region five, to Nov. 30 from Dec. 30. Mexico will freely float prices by Nov. 30 in the rest of the country.

The move “sends a strong signal to the market” that Mexico welcomes new players in the sector formerly dominated by state-owned Petroleos Mexicanos, said Roberto Diaz de Leon, president of Onexpo, Mexico’s gasoline retailers association, speaking at an event in Mexico City.

Read more…

Mexico’s Pemex to Revamp Gas Stations as Competition Steps Up

11/15/2017 The Wall Street Journal 

5337912858_1b19aea036_mMEXICO CITY—State oil company Petróleos Mexicanos, facing competition in the retail fuel market for the first time since its foundation eight decades ago, is revamping its network of franchised service stations and will use its advantages to offer competitive prices, officials said Wednesday.

“The energy reform has changed the situation in the energy sector,” Pemex Chief Executive José Antonio González Anaya told a gathering of several thousand owners and operators of Pemex brand service stations. “We’re no longer the only ones, so we need to renovate ourselves.”

Mexico changed its energy laws in 2013, allowing private and foreign investment in exploration and production, refining and distribution for the first time since the 1938 oil industry expropriation, and has successfully auctioned dozens of oil blocks. The energy overhaul also lifted the foreign ownership restriction on service stations, and allowed for brands other than Pemex.

Read more…

Enel to Bid in Mexico Power Auction After Raising $1.35 Billion

11/12/2017, Bloomberg 

Enel Green Power SpA, the renewable-energy unit of Europe’s largest utility, plans to bid in Mexico’s power auction this month after raising $1.35 billion with a deal to sell stakes in eight wind and solar projects in the country in October.

“We’ll participate, for sure,” Chief Executive Antonio Cammisecra said in a phone interview. “Mexico is a core market for us and the sale deal doesn’t mean we are exiting the country.”

The moves are part of strategy Enel calls “build, sell and operate.” Developing and then offloading assets will generate capital to invest in new ones, while the company continues to receive revenue from handling power plants once they’re complete, Cammisecra said.

Read more… 

Goldcorp’s Telfer hopes to grow oil firm’s Mexico footprint

11/8/2017 Reuters 

oil
Photo by Oliver Paaske on Unsplash

MEXICO CITY (Reuters) – The oil firm co-founded by the chairman of Canadian gold miner Goldcorp Inc wants to aggressively expand in Mexico in coming years, including a potential joint venture with state-owned Pemex, the company’s director said in an interview on Wednesday.

Canadian start-up Renaissance Oil Corp wants to grow its portfolio of projects in Mexico, aiming to reach up to 30 in the next five years, said Ian Telfer, the chairman of Goldcorp who helped start Renaissance in 2014.

Read more…

Arizona regulators OK power line upgrade from Vail to Nogales, new line to Mexico

11/07/2017 Tucson.com

Energy -electricity_transmission_linesState regulators approved a project planned by Tucson-based UniSource Energy Services and a Texas company to upgrade a high-voltage transmission line between Vail and Nogales, and related construction of a new power line from Nogales to Mexico.

The Arizona Corporation Commission voted unanimously Tuesday to approve both the Vail-Nogales project, which is backed by UES Electric, part of UNS Energy Corp. that serves Santa Cruz and Mohave counties, and the Nogales-Mexico line planned by Dallas-based Hunt Power.

Read more…