Image credits: @pemex
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Weekly Roundups

Coatzacoalcos Spill Raises Midstream Infrastructure Concerns

By Conal Quinn | Wed, 06/08/2022 - 20:00

The Coatzacoalcos spill is this week’s biggest story in oil and gas, raising serious concerns for PEMEX’s midstream infrastructure maintenance. Elsewhere this week, the Mexican Export Blend continues its upward trend and the CNH approved Eni’s plan for shallow water exploration. 

Read more in the weekly roundup!


Mexico:

 

PEMEX Vessel Sinks in Coatzacoalcos

An oil spill has been reported in Coatzacoalcos, Veracruz, following the sinking of a PEMEX-operated barge. Chalán 571 sank in the Pajaritos Lagoon on Saturday. The subsequent spillage has raised concerns for the environment and local wildlife.  

 

CNH approves Eni work plan for Shallow Water Block. 

Eni Mexico's work plan and annual budgets for contract CNH-R02-L01-A14.CS/201 concerning a 466.46 km² shallow water block in the Cuencas del Sureste region off the Tabasco coast were approved by CNH. Eni plans to continue the exploration process, evaluating the hydrocarbon potential in the Pleistocene, Cretaceous and Upper Jurassic plays until Sept. 2022.

 

Mexican Blend Rises to US$113.59; WTI Climbs to a 13-week High

The price of the Mexican export blend continued its bullish streak this Tuesday, closing at a three month high of US$13.59,  an accumulated increase of 60 percent from the start of the year. Meanwhile, WTI crude also climbed to its highest price in 13 weeks on the New York Stock Exchange, propelled by projections of an even tighter global supply.

 

CNH Extends Exploration Period for Total, Pantera

The CNH has granted more time to TotalEnergies and Pantera E&P to explore their respective shallow water and onshore blocks. The regulatory body granted authorization to extend the initial exploration period, to TotalEnergies, with respect to contract CNH-R02-L01-A15.CS/2017 and Jaguar for contract CNH-R02-L02-A7-BG/2017.

 

Dos Bocas Construction Update

The Ministry of Energy (SENER) released a video this week detailing the progress made in the construction of the Olmeca refinery at Dos Bocas, a month out from its inauguration date. Despite slowing down in recent weeks and months due to a lack of resources, SENER maintains that the project is still on track to meet its July 2nd deadline. 

 

International: 

 

France in Talks with UAE for Russian Oil Alternatives

French Finance Minister Bruno Le Maire said on Sunday that France is in discussions with the United Arab Emirates regarding supplies of oil and diesel. 

‘Ready to Use Force’: Hezbollah Issues Threat as Gas FPSO Arrives in Israeli Waters

Lebanon claims the Karish field, to be tapped by Energean Power’s FPSO, lies in disputed waters, as the country threatens with use of force.

Eni’s Massive Libyan Offshore Project Set for Operation Start in 2023 as ‘Fast-Track’ Approach Eyed

The Italian major’s E&P director tells Upstream that “overall development is 75 percent  defined.”

India in Talks to Increase Russian Oil Imports from Rosneft

The country’s refiners want more crude coming directly from Russian oil companies to displace spot purchases from elsewhere.

Photo by:   @pemex
Conal Quinn Conal Quinn Journalist & Industry Analyst