Pages

Tuesday, November 17, 2015

Tuesday, November 17, 2015

Active rigs:


11/17/201511/17/201411/17/201311/17/201211/17/2011
Active Rigs63184183187201

RBN Energy: Mexico's oil sector in a state of flux.
Mexico’s energy relationship with the U.S. is undergoing radical changes as its oil production sags, its refineries produce too much high-sulfur fuel oil and too little gasoline and diesel, and its imports of U.S. natural gas and transportation fuels rise. Add to this already complicated story the Mexican government’s efforts to inject competition and private-sector participation into a national energy sector long-dominated by state-owned PetrĂ³leos Mexicanos (Pemex) and that company’s plan to swap light U.S. crude for heavy Mexican oil. In today’s blog, “With A Little Help From My Friends—Mexico’s Oil Sector in a State of Flux,” Housley Carr begins a look at the ongoing transformation of U.S.-Mexico hydrocarbon trade and what it may mean for U.S. players—and Pemex.
A number of RBN posts over the past couple of years have detailed the evolution of the U.S. –Mexican energy relationship.
The most significant development to date has been a large increase in Mexican imports of U.S. natural gas – aided by new cross-border pipelines and Mexico’s build out of gas fired power generation assets.
More recently we covered the existing and potential market for imports to Mexico of U.S. liquefied petroleum gas (LPG _ a mixture of propane and butane – mostly propane.
But the energy trade traffic is not all in one direction.
The U.S. is a significant importer of heavy Mexican crude that is refined by Gulf Coast refineries and we have described the battle for market share at those refineries between Pemex and rival Western Canadian oil sands producers. In the past year the U.S./Mexico crude oil relationship has gotten even more complex with the advent of crude oil swaps that we described in “Have Another Swap of Mexican Crude” and which were finally approved to begin in early November 2015 at a rate of 75 Mb/d.
Fillon's update, but it does not address the Bakken, except in passing.

Oil producers hungry for deals in the Permian -- BloombergRigzone.

Oil dealmakers find slim pickings among premium-priced producers -- Bloomberg/Rigzone

Russia in talks to allow China into offshore Arctic projects -- Reuters/Rigzone.

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.