Last week filled a page of Mexico’s natural gas industry chapter. Dealing with an increased dependency on US imports, creating a natural-gas specialized NOC and reconsidering hydraulic fracking are but a few of the matters that President-elect López Obrador’s team wants to tackle to secure the country’s energy security. Meanwhile, OPEC maintains production levels despite US pressures to increase it, Total strikes gas in the North Sea and Shell launches a new multimillion-dollar Cleantech Accelerator Program together with the DOE’s NREL.
Ready to fuel up? Here’s your weekly news roundup:
MEXICO’S NATURAL GAS ODYSSEY
President-elect López Obrador Commits to Respecting Licensing Round Contracts during a closed-doors meeting with 40 oil companies’ representatives at the former Convent of San Hipólito. AMEXHI’s President, Alberto de la Fuente, said attendees considered their investments secure after the meeting concluded.
Industry Experts Warn Over Natural Gas Lag Without Fracking. While President-elect López Obrador has publicly voiced his position against fracking, Luis Labardini, Partner at Marcos y Asociados highlighted Mexico is ranked sixth worldwide in shale potential, which could reduce the country’s dependency in natural gas imports from the US.
Tackling a Decreasing Production. Mexico’s next administration will inherit an increased dependency on natural gas imports from the US, resulting in the combination of CFE’s power plant gasification strategy and PEMEX’s crippled natural gas production levels.
CNH Suggests Creating a Natural Gas-Specialized NOC. All non-associated gas field allotments and natural gas processing infrastructure should be transferred to this new entity.
Total Poised to Compete with Oxxo Gas Convenience Stores. The French IOC inaugurated its first service station including a Bonjour convenience store, officially launching the stepping stone of its 250 service stations in the pipeline for 2019.
PEMEX and Tesoro México Supply Close Energy Storage Capacity Agreement. The Andeavor subsidiary is a winner of the Open Season for the Pacífico-Zona Topolobampo system, published in May 2018.
OPEC Maintains Production Levels. Despite the US’ pressure to increase crude oil production, OPEC decided to maintain production levels constant, generating a price recuperation wave.
Total Announces Major UK Offshore Gas Discovery. The French IOC shared its discovery off the coast of the North Sea’s Shetland Islands, confirming a good reservoir quality in the Glendronach prospects.
Fieldwood Energy Evaluating 2019 IPO. After emerging from bankruptcy in April 2018, the Houston-based offshore oil and gas explorer is now considering filing an IPO in early 2019.
Shell and NREL Launch New Multimillion-Dollar Cleantech Accelerator Program. The Shell GameChanger Accelerator was launched in partnership with the US Department of Energy’s National Renewable Energy Laboratory (NREL) to focus on electricity grid technologies and new developments in energy storage and controls.
Stockholders of Andeavor and Marathon Petroleum Corp Greenlight Merger. The merger is set to conclude on Oct. 1, 2018.
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