Last week, President-Elect López Obrador confirmed the first days of its administration would oversee the execution of a drilling round for December 2018, ASEA inaugurated its digital platform, CRE merged the Contract Transfer Phases and CENAGAS has a natural gas storage asset ready to tender. Meanwhile, OPEC reached its highest production levels in 2018 and Talos Energy finalized its Whistler II purchase.
Ready to drill through the week’s top stories? Here’s your weekly news roundup:
López Obrador Announces Drilling Rounds for December 2018. During a press conference in the President-Elect’s transition house, López Obrador confirmed said tenders would be organized in the first days of December 2018.
CIDE Research Highlights CNH’s Lack of Transparency Over PEMEX’s Round Zero Assets. The study highlights a transparency disparity over the information available concerning the contracts awarded to private players during Mexico’s Licensing Rounds compared to PEMEX’s Round Zero contracts.
Shell Outlines Mexico’s Energy Challenges. In an interview with Forbes Mexico, Alberto de la Fuente, Director General of Shell Mexico, said increasing production and catering to the country’s natural gas demand are the key issues to be tackled by the next administration.
Incoming Energy Minister Rocío Nahle confirms investments for PEMEX and CFE. Nahle reported that MX$100 billion from the 2019 federal budget will be injected into PEMEX and CFE to increase their productivity and efficiency.
CRE approves Phases II and III of the Natural Gas Contract Transfer. The mechanism is set to incentivize private participation in natural gas commercialization as PEMEX Transformación Industrial is mandated to transfer a share of its natural gas commercialization contracts, representing 70 percent of the NOC’s total volume of natural gas commercialization.
ASEA Presents its Digital Platform. The objective of said platform is to capitalize on the interoperability across industry regulators and undertake an efficient follow up of the risks inherent to the projects under development based on their location.
The Mexican government has destined MX$25 billion to the research, technological development and human resource formation specialized in energy. During the inauguration of a pilot Microalagae plant and Tabasco’s Energy Sustainability Laboratory, Pedro Joaquín Coldwell, Minister of Energy, outlined that from 2012 up to August 2018, the Ministry of Energy and CONACyT destined this amount through projects financed by the sectorial funds for Energy Sustainability and Hydrocarbons.
CENAGAS Selects Dry Jaf Deposit for Storage. Located in Veracruz, with a capacity of 10Bcf for emergencies, requiring a US$240 million investment and an estimated construction time of 42 months, CENAGAS is poised to publish the first tender for the depleted Jaf deposit.
Peña Nieto’s Administration Closes with Hydrocarbons Production Drop. President Peña Nieto’s sixth and last Government Report showed increased hydrocarbons imports, a greater trade balance deficit and hydrocarbons production drops.
OPEC Crude Oil Production Reaches 2018 High. The intergovernmental organization reported pumping 32.79 million b/d in August, 220,000b/d more compared to OPEC’s high prevision scenario. Increased activity in Libya and Iraq’s record southern exports are the key factors behind the figures.
Talos Energy Announces Whistler Energy II Purchase. With a price tag of US$52 million, the acquired assets include a 100 percent working interest in three blocks in the Central Gulf of Mexico: Green Canyon 18, Green Canyon 60 and Ewing Bank 988.
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