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US wants answers on Mexican energy aims: Granholm

  • Market: Crude oil, Natural gas, Oil products
  • 21/01/22

Clean energy cooperation and questions over Mexico's proposed power reform topped the agenda during a meeting between President Andres Manuel Lopez Obrador and US energy secretary Jennifer Granholm in Mexico City.

"We see a great opportunity to work together on clean energy, to work together towards decarbonization as a North American block," Granholm said about the meeting yesterday at an event with women in the energy industry today. "But we also expect questions around the electricity reform to be resolved."

Ahead of the meetings, US senators called on Granholm to confront Mexico about inaction on climate change and emissions reductions as well as the threat to US investments posed by the electricity reform being debated in congress.

As Biden is pushing a net-zero greenhouse gas emissions target by 2050 and a global leadership role on climate change, Lopez Obrador's government has largely rejected renewable energy development, instead championing fuel oil and coal use and building the 340,000 b/d Olmeca refinery.

But Mexican energy minister Rocio Nahle defended Mexico's ambitions on the energy transition today, confirming it was a priority but that it "cannot happen overnight."

Lopez Obrador sent a constitutional electricity reform bill to congress on 1 October that would restore state-owned power utility CFE's market dominance by prioritizing its dispatch and capping private-sector participation at 46pc.

The reform would revoke all private-sector generation permits — some 40,924MW, or 48pc, of Mexico's installed capacity — and threaten at least $44bn in private investment and potentially violate the US-Mexico-Canada free trade agreement (USMCA).

But Lopez Obrador characterized the meeting with Granholm as a success, saying she "understood that our mission was to end corruption and to show that we are open to dialogue."

Lopez Obrador confirmed that Mexico was open to negotiating "case by case" with US and Canadian companies affected by the power reform.

"Where they believe an injustice has been made, we can reach an agreement," Lopez Obrador said.

A handful of US and Canadian companies such as Sempra Infrastructure operate in Mexico's power market but Lopez Obrador accused European companies such as Iberdrola of scaremongering about the reform.

"They should be embarrassed, talking about expropriation and power cuts, saying Mexico is Venezuela and that we have communist ideas," Lopez Obrador said.

CFE argues that self-supply rules that pre-date the 2014 energy reform and allowed large companies to generate power on site at preferential transmission rates have been abused, costing the utility $347mn/yr.


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18/07/24

Australia’s Santos delays FID on Dorado oil field

Australia’s Santos delays FID on Dorado oil field

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TotalEnergies agrees to sell stake in Nigeria SPDC JV


17/07/24
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17/07/24

TotalEnergies agrees to sell stake in Nigeria SPDC JV

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China’s CNOOC gets record gas results from Bohai well


17/07/24
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17/07/24

China’s CNOOC gets record gas results from Bohai well

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Aumentan importaciones de combustible en México


16/07/24
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16/07/24

Aumentan importaciones de combustible en México

Mexico City, 16 July (Argus) — Las importaciones de combustible en México aumentaron en julio de cara a la temporada de viajes de verano e impulsadas por una disminución de la producción nacional en las refinerías de la estatal Pemex. Las importaciones marítimas a México de gasolina, diésel y turbosina, incluidas las importaciones de Pemex y privados, aumentaron un 18pc a aproximadamente 780,000 b/d del 1 al 10 de julio, frente a 663,000 b/d en el mismo periodo de 2023, según datos de Vortexa. Esto se debió principalmente a un aumento del 66pc en los cargamentos de diésel hasta alcanzar 268,000 b/d, ya que la disponibilidad de este combustible en el mercado ilegal probablemente disminuyó, según fuentes del mercado. Los cargamentos de turbosina se cuadriplicaron hasta los 43,000 b/d en el mismo periodo, ya que Pemex reabastece sus inventarios antes de la temporada de viajes aéreos de verano. Las importaciones de combustible a México habían disminuido a principios de este año, después de que la campaña del gobierno para aumentar la producción de refinerías y reducir su dependencia de las importaciones de EE. UU. comenzara a dar sus frutos, aumentando la producción de gasolina y diésel de Pemex en un 32pc y reduciendo sus importaciones hasta un 25pc en marzo. Pero en abril y mayo, el sistema de refinación de Pemex enfrentó varios problemas, desde un incendio en la refinería de Minatitlán hasta un corte de energía importante en la refinería de Tula, lo que llevó los niveles de procesamiento de crudo de Pemex a un mínimo de cinco meses en mayo. Las tasas de operación de las refinerías en junio se publicarán el 26 de julio. Es probable que el procesamiento de crudo haya caído durante el mes pasado debido a operaciones de mantenimiento en dos refinerías, dijo una fuente familiarizada con las operaciones de refinación de Pemex. El mercado tiene sus dudas sobre la posibilidad una fuerte caída en las importaciones de combustible a México, y algunos refinadores de la costa del Golfo de EE. UU. esperan una fuerte y creciente demanda. Además, incluso si la refinería Olmeca de 340,000 b/d iniciara operaciones comerciales este año, es probable que las otras seis refinerías reduzcan sus tasas de utilización, según fuentes del mercado. Recientemente, Pemex comenzó a vender diésel desde la terminal de distribución de la refinería de Olmeca, pero la cantidad es limitada y el combustible se produjo utilizando materia prima destilada en otra planta. La tendencia a la baja en las operaciones de refinado de México podría continuar en julio a pesar de los esfuerzos del gobierno saliente para aumentar la producción nacional. México ha exportado alrededor de 1 millón de b/d de crudo hasta la fecha en julio, un aumento del 20pc frente a los 847,500 b/d en todo junio, según los datos de Vortexa. Esto indica que es probable que las refinerías de Pemex estén operando a tasas más bajas. Las importaciones de combustible de México podrían continuar su tendencia al alza en los próximos meses, pues los gasolineros esperan una mayor demanda de gasolina durante las vacaciones de verano. Los inventarios de gasolina y diésel de Pemex descendieron un 24pc en junio a 6.2 millones de bl, frente a 8.1 millones de bl en junio de 2023, según una respuesta de transparencia de Pemex a una solicitud de Argus . La empresa deberá aumentar sus importaciones si las refinerías no siguen el ritmo de la demanda. Además, las importaciones suelen aumentar en la segunda mitad del año, impulsadas por la demanda de diciembre y la mezcla de gasolina de invierno de menor precio. México importó más gasolina en el segundo semestre del año en 11 de los últimos 12 años y más diésel en ocho de esos mismos años. Juego de unos pocos El mercado de importación de combustible de México se ha limitado a Pemex y a algunas empresas del sector privado durante los últimos tres años del mandato del presidente Andrés Manuel López Obrador, y no hay señales de cambio después de las elecciones presidenciales de junio. Se espera que la presidenta electa Claudia Sheinbaum, que tomará el cargo el 1 de octubre, continúe con las políticas nacionalistas de energía de López Obrador, y tendrá aún menos contrapeso que su predecesor tras la contundente victoria de su partido Morena en las elecciones legislativas. Las importaciones de combustible a México se abrieron a empresas del sector privado después de la reforma energética de 2014, pero la secretaría de energía canceló decenas de permisos de importación de combustible en los últimos años. Por Antonio Gozain Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

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Tanker owner denies Houthi attack in Med


16/07/24
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16/07/24

Tanker owner denies Houthi attack in Med

London, 16 July (Argus) — The owner of a tanker reported attacked today in the Mediterranean Sea has said there was no such incident. Petronav Ship Management said its tanker, Olvia , was not targeted as claimed by Yemen's Houthi militants. An attack in the Mediterranean would be a big step outside the Houthi's region of operations, which is limited to the area in and around the Bab el-Mandeb strait at the southern end of the Red Sea. The Houthis claimed two other attacks today in the Red Sea, on crude tanker Chios Lion and oil product tanker Bentley I . By Ben Winkley and Bob Wigin Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

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