Oil&Gas Security Market to Witness Boom

The oil and gas security market is expected to witness massive growth between 2021 and 2028. Initially valued at US$25.73 billion in 2020, the market is expected to reach US$39.45 billion by 2028, with a growing CAGR of 5.5%. 

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Oil and Gas Security Market to Grow Significantly by 2028

The oil and gas security market is set to experience significant growth till 2028, driven by a range of factors including increasing demand for energy, rising security threats and investments in infrastructure and exploration activities. North America is expected to be a major market for oil and gas security, due to the presence of a large number of oil and gas companies and the high level of security threats in the region.

LNG Industry Must Reinforce Emissions Mitigation Measures

Even though natural gas is a cleaner alternative to other fossil fuels such as coal and oil, the LNG industry still has room for improvement in reducing GHG emissions. Companies in the industry should adopt measures, such as using renewable energy sources to power LNG facilities and investing in carbon capture and storage technology to capture and store emissions.

Finance Minister: PEMEX to Pay 2023 Debt Amortization by Itself

Minister of Finance Rogelio Ramirez de la O announced that PEMEX will be responsible for paying its own debt amortizations in 2023, rather than relying on the government for support. Its ability to pay the debt amortization in 2023 will have implications for Mexico's public finances.

Talos Energy Faces Challenges in the Development of the Zama

Talos Energy has faced a range of challenges in developing the Zama field, including regulatory and legal hurdles, technical issues and the impact of the COVID-19 pandemic. One of the main challenges has been a dispute with the Mexican government over the ownership of the field.

PEMEX Progresses on Regularization of Temporary Staff 

PEMEX has been working with the Mexican government and labor unions to develop a plan for regularizing temporary workers. The plan involves offering permanent positions to eligible workers and providing them with benefits such as health insurance, retirement plans and paid time off.

PEMEX to Increase Production in 2023

The NOC is planning to increase its production through a combination of measures, including the development of new oil fields and the optimization of existing ones. The company is also reportedly investing in new technologies and exploring new partnerships with private sector companies.

ENI Maintains Hot Streak 

Eni’s success in Mexico has been due in part to its use of advanced technologies, such as 3D seismic imaging and deepwater drilling techniques. These technologies have allowed the company to accurately locate and extract hydrocarbons from difficult-to-reach reservoirs.

Nuevo Leon Gives PEMEX Deadline to Curb Emissions 

The government of Nuevo León's ultimatum to PEMEX comes after the refinery released a thick yellow smog cloud earlier in March. It reflects growing public concern about air pollution and environmental issues in Mexico.

Offshore Investment to Grow 

Offshore investment has become increasingly attractive to international companies in recent years, due in part to technological advances that have made it easier and more cost-effective to extract hydrocarbons from offshore reservoirs. In addition, offshore projects tend to have longer lifespans and higher potential reserves than onshore projects, making them more attractive to investors.

PEMEX Reduces Gasoline Production, Increases Imports 

PEMEX has reduced its gasoline production and increased its fuel imports in recent months. The reduction in gasoline production is part of PEMEX’s efforts to address maintenance issues at its refineries, which have struggled to operate at full capacity in recent years.