U.S. congressmen complain about Mexico energy changes

10/20/2021

Source: AP News

Texas congressmen complained Tuesday about the Mexican government’s attempts to limit competition in the electrical power sector.

In a letter to U.S. Ambassador Ken Salzar, about 20 Texas congressmen and senators criticized changes proposed by President Andrés Manuel López Obrador to restrict the market share of private power generators and favor Mexico’s state-owned utility company.

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Power sector reforms launched in Mexico

10/04/2021

Source: World Nuclear News

In a press conference at Cuernavaca on 1 October, López Obrador said that reforms put to the Chamber of Deputies on 30 September would give CFE its rightful place in the power system. They would effectively undo reforms made in 2014 intended to increase competition.

Obrador said that private companies had been encouraged to enter the Mexican power market at CFE’s expense. He said they had been able to generate power and make money while CFE power plants were required to be idle, and were able to use the national power grid for no cost.

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Talos Energy files notice with Mexico over disputed oil field

09/07/2021

Source: Mexico News Daily

A United States energy company has submitted notices of dispute to the federal government over a decision to take away its control of a shallow water oil field in the Gulf of Mexico.

Houston-based Talos Energy intends to fight the decision by the Energy Ministry (Sener) to designate the state oil company Pemex as the operator of the Zama field, which contains almost 700 million barrels of oil.

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Mexico can keep supporting Pemex, finance minister says

09/02/2021

Source: Reuters

MEXICO CITY, Sept 2 (Reuters) – Mexico’s finance minister Rogelio Ramirez de la O said on Thursday that the government is in a position to continue supporting state oil firm Petroleos Mexicanos (Pemex).

Ramirez de la O, who recently took over as finance minister, said at an event organized by Moody’s Investors Service that he expects a closer relationship between Pemex and the finance ministry.

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Mexico City taps solar energy to clean up historic Aztec-era canals

08/24/2021

MEXICO CITY, Aug 24 (Reuters) – Mexican scientists have developed a unique “nanobubble” system using solar energy to improve water quality in the canals of Mexico City’s Xochimilco ecological zone, a popular tourist attraction.

Officials in Mexico City have been focused on cleaning up the long-polluted waters of Xochimilco, a UNESCO World Heritage Site and one of the few areas of the capital that still boasts canal networks dating back to Aztec times.

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Oil Rebounds On Mexico Production Outage

08/24/2021

Source: Oilprice.com

Crude prices recovered somewhat from last week’s freefall, boosted by improving signals coming out of East Asia (China reporting no locally transmitted infections) as well as the Ku-Maloob-Zaap platform seeing a major supply disruption in offshore Mexico. ICE Brent quotes swung back above the $70 per barrel mark, whilst WTI futures trended around $67.5 per barrel, further extending the widening Brent-WTI spread.

A fire on a PEMEX-operated offshore oil platform connected to the Ku-Maloob-Zaap complex (40% of Mexico’s crude output) killed at least 5 people, forcing the Mexican NOC to decrease output as the platform ran out of natural gas for reinjection.

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Five killed in Mexico’s oil platform fire, hammering Mexico output

08/23/2021

Source: Reuters

MEXICO CITY, Aug 23 (Reuters) – Five workers were killed and six injured in Sunday’s fire on an offshore platform in the southern Gulf of Mexico operated by Petroleos Mexicanos (Pemex) that cut about a quarter of Mexico’s oil production, the company said on Monday.

The fire broke out as crews were performing maintenance on the platform, and a search for missing workers continues, Pemex Chief Executive Octavio Romero told a news conference.

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Mexican City gas distributors strike over price controls

08/04/2021

Source: Associated Press

Crews that distribute LP gas in Mexico’s capital went on strike Tuesday, just two days after the government imposed price controls on the fuel that most Mexicans use to cook and heat water.

Independent distribution trucks and their crews blocked the entrances to gas tank farms on the outskirts of Mexico City to protest maximum prices that they say will hurt their earnings. Experts had warned that price controls announced Sunday would probably lead to shortages, because the largely private gas distributors may refuse to operate under government-imposed profit margins.

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Energy reform fears trip up Mexico’s peso

07/13/2021

Source: Reuters

July 13 (Reuters) – Mexico’s peso lost 1% on Tuesday on concerns over more government interference in the energy sector, while most other Latin American currencies fell as rising U.S. inflation raised fears of monetary policy tightening by the Federal Reserve.

Mexican President Andres Manuel Lopez Obrador said he plans to send a constitutional reform to Congress, widely opposed by independent power firms and investors on grounds that it would hurt competition.

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Lukoil buys Fieldwood out of Mexico offshore project

07/07/2021

Source: Upstream

Russian oil producer Lukoil has agreed to pay $435 million and additional unspecified incurred development costs to acquire a 50% operating stake in two Mexican shallow-water blocks from US independent Fieldwood Energy.

The blocks are part of the Area 4 project in the Gulf of Mexico and host the Ichalkil and Pokoch fields.

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