Updated Aug 30, 2024
8/30/24
Senior Reporter
Minneapolis, MN
Mexico’s natural gas production averaged 3.82 Bcf/d in June, down from 4.35 Bcf/d in the same month last year. Output has been down on a year/year basis each month since the start of 2024, and has fallen sequentially in every month except May.
North Dakota produced 3.51 Bcf/d of natural gas in May, up 0.5% from April, despite a 3.9% month/month decline in oil output and an oversupplied gas market.
Halliburton Co. CEO Jeff Miller during the second quarter conference call expressed cautious optimism for a rebound during 2025 in North American exploration and production (E&P).
Portuguese construction firm Mota-Engil SGPS, SA said it has signed an agreement with Mexican state oil company Petróleos Mexicanos (Pemex) to build a $1.2 billion fertilizer plant at Pemex’s Escolin complex in Poza Rica, Veracruz state.
Offshore basins throughout the world are driving revenue growth for SLB Ltd. amid a slowdown in the North American onshore segment, according to CEO Olivier Le Peuch.
Mexico’s outgoing president Andrés Manuel López Obrador could still push through a regulatory overhaul of the energy sector before his successor Claudia Sheinbaum is sworn in this October, according to the Baker Institute for Public Policy’s David Gantz.
The continuation of Mexico’s current energy policies into the next administration could put a heavy strain on public finances, according to new research by local think tank Centro de Investigación Económica y Presupuestaria (CIEP).
Golar LNG Ltd. is teaming up with natural gas producer Pan American Energy S.L. (PAE) to begin exporting liquefied natural gas from Argentina for 20 years starting in 2027.
Macquarie Asset Management is joining Engie SA in a project to double the transport capacity on the existing 250 MMcf/d Energía Mayakan natural gas pipeline serving Mexico’s Yucatán Peninsula, the companies said.
Energy executives in the Rockies and Midcontinent have adopted a more bullish outlook on natural gas prices since earlier in the year, according to the Federal Reserve Bank of Kansas City.