The stage is set for Akron to rebrand 600 service stations in the Bajio region. The fuel additives company is also planning the construction of a storage terminal in Lagos de Moreno, Jalisco, with a capacity of 25,000 barrels. Akron’s decision stems in decreasing logistics costs as Mexico’s northern region charges the country’s highest gasoline prices.
The Mexican service station conglomerate, G500, celebrated along with its swiss partner, Glencore, the 100 service stations landmark, effectively setting foot in 15 states nationwide with its very own G500 Network brand. The Mexican conglomerate has all hands on deck to rebrand the 1,400 service stations that make up G500 network.
Spanish Repsol inaugurated its very first Mexican service station on March 12, 2018. For Spain’s multinational, it is the stepping stone of the 250 service stations per year plan set out by the company to conquer 10 percent of Mexico’s retail market with 1,200 service stations by 2021 and an investment of MX$8 billion.
On March 15, 2018, the Ministry of Energy published the guidelines to instruct the unification of shared oil fields and approve the terms and conditions of the unification agreement.
Mexico’s Mexican Association of Oil and Gas Companies (AMEXHI) presented on March 15, 2018 its Agenda 2040: Transforming Mexico to further build on Mexico’s new energy model. The Agenda is based on the rich exchanges, dialogue spaces and discussion among peers that AMEXHI encourages within the country’s oil and gas industry. It centers on four key elements: consistency, competition, transparency and a knowledge-based economy.
CNH’s Hydrocarbons Information Center (CNIH) joined the organization spearheading open data standards, Energistics Consortium, on March 14, 2018. Since the Energy Reform, the CNIH withholds and manages more than 11PB of technical data (equivalent to 11,000 hard disks of 1TB) including seismic studies and data from 35,000 oil wells drilled in Mexico over the last 100 years. Energistics Consortium designs effective industry standards bases on its members’ contributions to the benefit of every link in the industry value chain.
PEMEX estimates Madero, Tamaulipas refinery will be processing 130,000b/d by April 2018 after seven months hiatus launched under progressive phases in Aug. 2017 to stop production in Dec. 2017 for the productive enterprise of the state to undertake integral maintenance services. It is estimated the refinery has a processing capacity of 130,000b/d
Mexico is facing regional disparities linked to the liberalization of gasoline prices by region. While northern Mexico seems to be on the mend from gasoline price-related inflation, the country’s southern region is still struggling from the impact of recently increased gasoline prices.
Statoil is no more. The Norwegian multinational will now be known as Equinor, a new name signaling a new dawn as after 50 years operating in the oil and gas market, the now-known-as-Equinor multinational will focus on a broader energy company to echo the global energy transition the world is witnessing. As per the press release announcing the new baptism, “Statoil is building a material industrial position within profitable renewable energy and expects to invest 15-20% of total capex in new energy solutions by 2030.” The name and strategy shifts are expected to be voted on May 15, 2018.