Mexico loses millions of dollars daily to fuel theft

10/17/16 PRI

gas pipeline and gaugeMexico is opening up to private gasoline retailers, and a new wave of fuel imported from the United States is expected to follow.

But here’s a not-so-little problem: Gangs steal a huge amount of gas, and loose law enforcement and corruption let it happen.

For the past decade or so, there’ve been widespread reports of drug cartels putting illegal taps in the fuel pipeline network. The state-run oil company Pemex has documented that some of its workers and contractors have participated, after receiving bribes or even death threats.

Read more…

Mexico, U.S. join hands offshore

10/06/16 UPI

gas pipeline in green fieldRegional cooperation is a critical component for the shared environmental objectives on energy work in the Gulf of Mexico, U.S. and Mexican officials said.

The Mexican Agency for Safety, Energy and the Environment and the U.S. Bureau of Ocean Energy Management signed a letter of intent to work more closely on environmental matters related to hydrocarbon activity in shared maritime waters.

Read more…

Mexico Awards Contracts to Secure Renewable Energy

09/29/2016 The Wall Street Journal 

eneryMEXICO CITY—Mexico’s opening of its electricity market after decades of state control is driving fierce competition among suppliers of clean energy and pushing prices down, as renewable energies gain traction across Latin America.

Mexico’s government, following the launch this year of a wholesale electricity market under an independent system operator, this year held its first auctions in which companies made bids to sell renewable energy under long-term contracts to state-owned utility Comisión Federal de Electricidad, or CFE, starting in 2018.

Read More… 

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.

Read more…

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.


Read more…

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.

Read more…

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.

Read more…