Among this week’s leading oil and gas headlines, the Mexican government has announced a US$5.81 billion plan for new natural gas projects at Salina Cruz, while American energy giant Fortress Energy ponders a US$3 billion investment in Mexico.
For this and more, here is this week’s oil and gas roundup!
The Government of Mexico will invest MX$120 billion (US$5.81 billion) in the construction of a natural gas liquefaction plant, as well as a coking unit at the refinery in Salina Cruz, Oaxaca, announced President Andrés Manuel López Obrador during a visit to the region. A new pipeline is also in the works.
With the opening of the Olmeca refinery in Dos Bocas, Tabasco coming up on July 1, 2022, Mexico’s government is working with its partners to get operations ready for the trial period that will last six months. Once working at its full capacity, the refinery could produce 340Mb/d, but it still requires a significant number of professionals to complete its construction.
Scania México recently revealed its newest business line, focused on developing marine and industrial power generation engines to supply the domestic market and help feed Mexico’s country's electric energy demand. With over 130 years of experience, the company is venturing into different sectors while keeping its commitments to sustainability and efficient mobility.
President Andrés Manuel López Obrador recently suggested that US firm New Fortress Energy is considering several investments in Mexico’s energy sector, which could add up to US$3 billion. At a time when natural gas prices seem to grow by the day, the possible new influx of capital could help strengthen Mexico’s global economic position regarding the clean-burning fossil fuel.
CNH has granted more time to TotalEnergies and Jaguar to explore their respective shallow water and onshore blocks. The regulatory body authorized an extension of 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.
Mexico's president Andrés Manuel López Obrador said that the new refinery will be ready for its inauguration date in two weeks, but nonetheless called for patience, noting that it will take some months until the Olmeca refinery is operating at full capacity.
The Brazilian oil giant has a hired fleet of 16 units but is nevertheless looking for additions.
American credit rating agency Fitch Ratings has increased its short- and medium-term oil price assumptions, reflecting the increasing number of buyers boycotting imports from Russia.
The French giant and South Korean gas player signed agreement that could cement their relationship in the liquefied natural gas (LNG) market.
OPEC+ is set to remove all production curbs in August, a new report from Fitch Solutions Country Risk and Industry Research, sent to Rigzone this week, has outlined.