PEMEX is working around the clock to remain at the top of Mexico’s oil and gas industry, new entrants stake their foothold in their country to capitalize on the unlocked opportunities and licensing rounds may come up against some hurdles in 2019. Meanwhile, the Arctic’s underground treasures are set to surface by 2019 and Shell is the new oil and gas king.
Ready to drill through the week’s top stories? Here’s your weekly news roundup:
CENAGAS launches first natural gas strategic storage bid. 10bcf of infrastructure dedicated to strategic storage in depleted gas field are scheduled for open bids to reach the Ministry of Energy’s objective of a five-day inventory, equivalent to 45bcf, by 2026.
Repsol reaches 30 operational service station landmark. The Spanish service station company estimates its Mexican portfolio serves 25,000 daily customers, on average. Oaxaca is Repsol’s most recent operational addition, together with Mexico City, the State of Mexico, Baja California Sur and Veracruz.
VP Racing Fuels sets foot in Mexico. The US-based retail company closed an agreement with Consultores Internacionales Bisonte for service station branding and c-stores across the country.
PEMEX browsing through contractors to drill Asab-1. COSL, Ensco, Marinsa and PEMEX Perforación y Servicios are among the interested bidders to submit economic and technical proposals.
PEMEX remains number one of Expansión’s Top 500. With MX$1.4 trillion of invoices for 2017, the SOE kept its top spot.
PEMEX poised to close 2018 with 1.97MMb/d production. Carlos Treviño, Director General of the SOE, said the extraction tendencies align for such a target.
ASEA schedules Minatitlán refinery inspection. The visit will assess the reliability and safe operation of the facility in the aftermath of the June 14 fire outbreak.
Sproule sets up shop in Mexico. The Canada-based consultancy firm will open new offices in Mexico City on June 25, 2018 to drive the company’s growth strategy.
Mexico’s would-be next Finance Minister of the MORENA coalition expects oil tender halt. While Carlos Urzúa certainly considers more public and private investment is critical to continue fostering Mexico’s economic growth, for oil and gas players “my suggestion is that they wait and see and maybe invest somewhere else for a time.”
Petrobal set to invest US$2 billion in E&P. The capital will serve to develop Ixchalkil and Pokoch, won during Round 1.2. The private Mexican oil company expects to begin development phase by 2019.
PDVSA has a new Finance Vice President. Venezuela’s President, Nicolás Maduro, announced Iris Medina, Vice President of the public National Housing bank as PDVSA’s new CFO.
Norway greenlights exploration project in the Arctic. Equinor was given the go-ahead for its Johan Castberg project in the Arctic waters of the Barents Sea, as the parliament approved the state-controlled company’s development plan to grab hold of an estimated 450-650 million boe of recoverable resources.
BP publishes Statistical Review of World Energy 2018. The report states natural gas and renewables spearhead the energy supply for the global increase in energy demand.
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