Pemex Reduces Fuel Thefts as US-Mexico Energy Trade Value Dips
Mexico, the largest export market for U.S. petroleum products, expects to lessen its foreign fuel dependence as its builds a new $16 billion refinery.
July 15, 2024
Golden Pass LNG’s not so Golden Days
The $9.25 billion Golden Pass LNG project is arguably not having a golden moment at eight months behind schedule and some $2 billion over budget. Owners QatarEnergy and Exxon Mobil Corp. have begun damage control.
July 10, 2024
Offshore Guyana: ‘The Place to Spend Money’
Exxon Mobil, Hess and CNOOC are prepared to pump as much as $105 billion into the vast potential of the Stabroek Block.
July 9, 2024
Shell Trinidad Takes FID at Manatee Offshore Gas Field
Shell Trinidad and Tobago Ltd. has taken FID on the Manatee cross-border gas field. Manatee will start production in 2027 and at its peak add 104,000 boe/d or 604 MMcf/d of natural gas to Trinidad’s production profile.
July 9, 2024
Mexico’s Nearshoring Attracts $36B in Investment as US Energy Benefits
Mexico saw the highest level of foreign investment in 18 years as companies were attracted to low wage workers, but U.S. energy producers, among others, continue to fuel power for the country’s new factories and projects.
July 7, 2024
The Biden Effect: LNG SPAs Fall 15% in First Half 2024 After Pause
Poten & Partners data show that the total volumes associated with LNG sale and purchase agreements fell by 15% in the first half of 2024 compared to the same period in 2023 following the Biden administration’s LNG pause.
July 3, 2024
Mexico’s Zama Drama Eases, but Not Over for Talos, Other IOCs
Houston-based Talos Energy and its Block 7 consortium partners could make FID on the Zama field development sometime in the next year. But despite the importance placed on the project to secure energy security for Mexico, the consortium continues to run into headwinds.
June 26, 2024
Pembina, Haisla Nation Take $4B FID on Cedar LNG
Pembina Pipeline Corp. and the Haisla Nation took a $4 billion final investment decision (FID) on the 3.3-mtpa Cedar LNG project. The project is expected to start operations in late 2028.
June 25, 2024
IEA: EV Growth Could Displace Up to 12 MMbbl/d by 2035
The Paris-based IEA says up to 12 MMbbl/d of oil demand could be displaced by 2035 due to the rapid uptick in electric vehicle usage globally—especially in the U.S., EU and China.
June 24, 2024
Pemex’s Dos Bocas Refinery to Reduce Mexico’s Reliance on US Fuel
Mexico will significantly reduce its dependence on fuel from the U.S. in 2025 once state-owned Pemex concludes construction of its 340,000 bbl/d Olmeca refinery in Dos Bocas, according to the International Energy Agency.
June 20, 2024