Mexico delays auction of deepwater oil assets

July 30, 2015

07/30/15 Financial Times

gas pipeline in green fieldMexico has delayed the auction for its prized deepwater oil assets and sweetened bid terms after its inaugural tender to open its oil sector to private investors flopped two weeks ago.

The call for bids in deepwater fields and subsequent opening of data rooms had been delayed by two months and was now likely to occur at the end of September, Joaquin Coldwell, energy minister, told local television channel Foro TV on Tuesday night.

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Will There Be Blood?

July 30, 2015

07/30/15 US News

energy - oil_rigOn one particular pipeline being built in Mexico’s desert, work stopped at 5 p.m. No exceptions.

“After 5:30, when the cartels start moving drugs, they have to leave the site. And the cartel made it very clear that if they saw them after 5:30, they would be butchered. So they enter into an ‘agreement,'” says Miriam Grunstein, a professor at the Universidad Autonoma de Nuevo Leon and attorney who advised the unnamed pipeline construction company that entered into the understanding.

“It’s very spooky, but that’s how it works,” she says.

Pick your euphemism, but oil and gas companies are certainly no strangers to working in “volatile,” “dynamic” or “uncertain” settings, whether they be in Angola, Colombia, Indonesia, Nigeria or Papua New Guinea, not to mention Iraq after the U.S. invasion. Now Mexico may soon join that list: Last year, his country faced with a potential credit downgrade and hungry for cash, President Enrique Pena Nieto announced Mexico would begin allowing foreign companies to drill for oil and gas alongside the state-owned company, Petroleos Mexicanos, or Pemex, which has controlled exploration and production since 1938.

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Financing set for gas line in northern Mexico

July 29, 2015

07/29/15 Oil and Gas Journal

money laundering -- dollar billsFinancing is set for construction of a 289-mile pipeline that will carry natural gas produced in Texas to power plants in Mexico, reports Milbank, Tweed, Hadley & McCloy, which represented the funding group.

The La Laguna pipeline will connect power plants owned by state-owned Comision Federal del Electricidad in El Encino, Chihuahua, and La Laguna, Durango.

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Norwegian company surveying offshore Mexican reserves

July 28, 2015

07/28/15 UPI

Photo by Flickr user tsuda

Photo by Flickr user tsuda

SLO, Norway, July 28 (UPI) — A Norwegian energy company said it was surveying Mexican waters for the reserve potential in anticipation of a “new era” in the nation’s oil sector.

Dolphin Geophysical said Tuesday it started a seismic survey campaign off the western Mexican coast, saying the campaign coordinates with the nation’s recent sector reforms.

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Pemex to send crude to JX Nippon’s refinery in Japan

July 27, 2015

07/27/15 EBR

120px-PemexMexican state oil and gas company Petróleos Mexicanos (Pemex) has signed an agreement with JX Nippon Oil & Energy to ship six million barrels of light crude to the latter’s refinery in Japan.

Pemex will deliver Isthmus crude which is mainly produced in the Campeche zone, Mexico.

The crude will be transported in six cargoes from Pemex’s Salina Cruz terminal on the southern Pacific coast between this August and January 2016, reported Reuters. This will be in addition to about four million barrels shipped to JX Nippon in the first half of the year.

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Juárez is largest producer of solar panels in Mexico

July 27, 2015

07/27/15 El Paso Times

Solar PanelsJUAREZ >> This border city has become the largest producer of solar panels in Mexico and Latin America, officials said.

The manufacturing plant Flextronics, located in far south Juárez, recently reached its maximum capacity production of 1.3 million solar panels a year. It began making them for Missouri-based SunEdison Inc., the world’s largest renewable energy development company, in mid-2014.

The panels, which were produced for the first time in Juárez, are exported to the United States and other countries in South America and Europe for residential, utility and commercial photovoltaic projects.

A photovoltaic system employs solar panels, also known as modules, to supply usable solar power.

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Congressional testimony: Mexican energy reform

July 24, 2015

7/24/15 Energy Global

via Flickr - Dave Parker

via Flickr – Dave Parker

Below are highlights from the testimony given by Ambassador Carlos Pascual, Senior Vice President, IHS Inc. before the House Foreign Affairs Committee, Subcommittee on the Western Hemisphere regarding recent reforms to the energy sector in Mexico in the context of greater North American energy independence.

“Since 2012, Mexico has embarked on an historic opening of its energy sector to allow private investment and competition in the production, transit and sale of oil, gas and electricity, and in the coming years in retail markets as well. On July 15, Mexico completed the first tender since 1938 for the sale of hydrocarbon assets. Even though the results did not meet expectations, it formalised a process of opening the energy sector to private investment, and with that, the benefits that will eventually ensure from infusions of capital and technology. Mexico will benefit from these reforms, but so will American businesses and workers. North America can improve its energy security and play a more profound role in stabilising energy markets regionally and globally.”

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