PEMEX is racing against time to further open up the use of its pipelines and storage infrastructure for the private sector, before the nationwide liberalization of gasoline prices set for Nov. 30, 2017. To that end, CRE is preparing a capacity cession project for private players, readily available in COFEMER. This mechanism “will allow PEMEX TRI to assign part of the capacity of its pipeline transportation and storage system independently from the Open Season bids of PEMEX Logística,” explained CRE on a written statement to Grupo Reforma.
El Financiero reported CRE attributed three natural gas transport permits in the Yucatán Peninsula for the first time since the Energía Mayakan S. de R.L. de C.V. concession, almost 20 years ago. These permits will allow construction, operation and maintenance of a natural gas transport system 700km long.
According to Petroleum and Gas statistics published by CRE, the seven bids attained from Rounds 1 and 2 will result in 104 oil well drillings by private contractors. 66 of these drillings are for exploratory purposes, while 38 are development drillings. The former are the equivalent of PEMEX’s exploratory drillings of the 2014 – 2016 period.
El Economista Reported Mexico’s Federal Judiciary prohibited the use of ethanol in the order of 10 percent meant for the gasoline it produces, transports, stores and distributes by invalidating the NOM-016 modification attempted by CRE.
If Mexico’s Federal Budget Plan is approved as is, PEMEX E&P will have operative costs reduced to MX$29.175 billion, a 31 percent decreased compared to 2017. Strategic investments, third party contract renegotiations, workforce optimization, administrative costs reductions are the main axis of PEMEX’s 2017-2021 business plan to address the budget adjustment.
According to the Wall Street Journal, Texas is the theater of a sand craving, as several companies are acquiring important extensions of desert in the western part of the southern state. This reprised commodity is increasingly used by drilling companies to extract oil and gas from shale formations.
BP and Bridas announced a new joint-venture including PAE and Axion Energy, forming Pan American Energy Group, Latin America’s first integrated energy company and Argentina’s largest privately owned energy company.
Anglo-British petroleum company Shell announced a US$2 billion yearly investment in Brazil for the 2018 – 2020 period, totaling US$6 billion. The investment does not include participation in governmental bids.