Mexico’s Pemex to reduce stake in first deep water venture

09/27/16 Reuters

pemexMexican state oil firm Pemex will cut its stake to 40 percent from 45 percent in the first planned joint venture with private companies to develop reserves in the Gulf of Mexico’s deep waters, the national oil regulator said on Tuesday.

Global oil majors are widely expected to bid in the December auction to help Pemex develop the Trion light oil field in the Perdido Fold Belt, which lies south of Mexico’s maritime border with the United States.

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Is The Next Shale Boom About To Unfold In Mexico?

09/26/16 OilPrice.Com

stock-footage-montage-of-clean-energy-fossil-fuel-pollutionMexico could auction off shale acreage as soon as the second quarter of next year.

Mexico’s energy secretary said last week at Rice University that the government could begin shale auctions at some point after March 2017, another step forward in the country’s historic opening up of its energy sector. Mexico is sitting on what many think are vast shale oil and gas resources in the north, which are thought to be extensions of the Eagle Ford shale in South Texas.

 

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Sempra takes on bigger role in Mexico’s energy landscape

09/23/16 The San Diego Union Tribune

stock-footage-montage-of-clean-energy-fossil-fuel-pollutionSempra Energy’s subsidiary in Mexico, known as IEnova, has taken another step toward expanding its profile in the country’s energy landscape.

On Wednesday, Mexico’s antitrust commission approved IEnova’s purchase of a 50 percent stake in the infrastructure company Gasoductos de Chihuahua for about $1.1 billion from Pemex, Mexico’s state-run oil company.

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UPDATE 1-Mexico’s IEnova plans October share offering of over $1 bln -sources

09/12/16 Reuters

Mexico’s Infraestructura Energetica Nova (IEnova) aims to raise more than $1 billion in a secondary share offering in October, three people with knowledge of the matter said, in what would be one of the biggest Mexican equity placements in recent years.

A unit of U.S. firm Sempra Energy, IEnova has hired Credit Suisse and JP Morgan to underwrite the offer that will help it fund major investments, according to two of the people, who declined to be named as the offering is not yet public.

A spokeswoman for IEnova declined to comment. Credit Suisse and JP Morgan also declined to comment.

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Mexico Oil Regulators Approve Bidding Process for 12 Exploration Blocks

08/23/16 The Wall Street Journal

oil wellMEXICO CITY—Mexican oil regulators on Tuesday approved a bidding process for a dozen exploration and production areas containing mostly natural gas, the sixth auction since the country opened the industry to private and foreign investment.

The auction includes 12 onshore blocks, nine in the Burgos basin of northern Mexico and three in the south of the country. Contracts are for 30 to 40 years, including exploration, development and production periods.

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Complaints on the rise against Mexico’s CFE

08/22/2016 BNamericas

Cuatro Cienegas - Circle of Blue

State power utility CFE is one of the leading Mexican companies when it comes to customer complaints.

Federal consumer protection agency Profeco says 4% of the complaints it fields are against the utility, mainly about its metering system and billing. Complaints against CFE rose to 29,002 last year, 11% higher than in 2014, which in turn saw a 38% rise from 2013.

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Mexico’s Demand for Natural Gas Spurs Pipelines, Disputes

06/18/16 Bloomberg

natural gas drillJuly 15 — More than 700 miles of new pipelines in Texas are being built to ship more of the state’s natural gas to Mexico, raising concerns from U.S. environmentalists who want to see low-carbon renewable energy grow instead.

Exports of gas to Mexico are expected to grow dramatically by the end of the decade. While the U.S. has a long history of pipeline exports to Mexico, the explosion of new pipeline construction is raising environmental concerns about wild landscapes, an expected expansion of hydraulic fracturing, and greater use of natural gas instead of other sources of energy such as solar and wind.

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