Mexico data non-public sector oil manufacturing pushed by shallow water fields

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Non-public sector producers in Mexico recorded a report oil quantity of 106,120 b/d in August, up from 63,414 b/d a 12 months earlier, in keeping with upstream regulator Comíción Nacional de Hidrocarburos (CNH).

Mexico

Three non-public sector-run shallow water fields – all of which have been awarded in 2015 via a Spherical 1.2 bidding course of – reported report oil manufacturing for the month. These included the CNH-R01-L02-A1 contract operated by Eni SpA, CNH-R01-L02-A2 operated by Hokchi Power and CNH-R01-L02-A4 operated by Fieldwood Power.

The nation’s whole oil manufacturing averaged 1.63 million barrels/day in August, up from 1.62 million barrels/day in August 2021. The state oil firm Petroleos Mexicanos (Pemex) produced 1.52 million barrels/day, up from 1.55 million barrels/day within the 12 months. – First month.

Mexico’s high oil producing areas have been Malub (274,000 b/d), Zap (239,000 bbl), Ayatsil (89,000 bbl), Xanab (79,000 bbl) and Yaxha (52,000 bbl). Pemex operates all 5 areas.

In the meantime, Mexico’s pure gasoline manufacturing averaged 4.06 bcf/d in August, up from 3.81 bcf/d in August 2021, CNH information exhibits.

Pemex accounted for a complete of three.82 Bcf/d, up from 3.61 Bcf/d within the year-ago month, however as much as 3.86 Bcf/d in July.

The non-public sector operators produced 238.5 mmcf/day as in opposition to 196.9 mmcf/day a 12 months in the past.

The highest gasoline producing fields, all operated by Pemex, have been Quesky (477 mmcf/d), Ixachi (304 mmcf), Malub (303 mmcf), Akal (253 mmcf) and Onel (190 mmcf).

The corporate mentioned manufacturing of dry gasoline from Pemex processing facilities averaged 2.29 bcf/d, up from 2.15 bcf/d in August 2021.

[Mexico Matters: Cross-border energy trade between the U.S. and Mexico reached $42 billion last year. Understand this burgeoning trade flow — the projects, politics and natural gas prices — with NGI’s Mexico Gas Price Index. Know more.]

Mexico receives most of its pure gasoline from the US by way of pipeline, a pattern forecast to proceed for the foreseeable future. A number of deliberate LNG export crops are in varied levels of improvement on Mexico’s Pacific and Atlantic coasts, largely with the purpose of re-exporting imported gasoline by pipeline from the US.

President Andres Manuel López Obrador mentioned this week {that a} liquefied pure gasoline export hub within the port of Coatzacoalcos, Veracruz, might doubtlessly assist Europe wean itself from Russian gasoline.

In line with CNH, imported pure gasoline equipped 87 p.c of Mexico’s demand in Might, excluding gasoline produced and consumed by Pemex. That is down from 91% in Might 2021.

On the upside, the Hydrocarbon Firms Affiliation of Mexico (AMEXHI) this month urged the Senate to expedite the appointment of a brand new CNH president following the resignation of Rogelio Hernández.

AMEXHI pressured the “significance of guaranteeing the regulatory continuity of the hydrocarbon sector” and the necessity to preserve a “technical and truthful profile of the Fee”.

In the meantime, Pemex continues to face monetary difficulties regardless of benefiting from larger oil and pure gasoline costs.

Fitch analysts Saverio Minervini and Carlos Morales mentioned in a analysis observe this month that “the oil worth hike in 2022 was a misplaced alternative to enhance materially”.

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