Tag Archive for: energy reform

Fundamental factors to strengthen Pemex

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The Government of Mexico has repeatedly mentioned that one of its main goals in the National Hydrocarbons Plan is the production of 2.6 million barrels of crude oil per day at the end of 2024.

The production profile brings components such as the base production already in place of oil fields operating in the country, the plan proposes operations of drilling and development of more than 20 new fields of which PEMEX has already been hiring and asking for authorizations for the development, contains projects related to secondary and improved recovery of the deposits that already exist and production that is associating future discoveries.

PEMEX has 22 fields for new development, of which 18 are in shallow waters.

Thanks to the investment that is planned for drilling and infrastructure, there is the possibility that in these 18 fields we might find more extension and thickness in their deposits to be found, since this has happened before.

The energy policy is being modified by the nature of the political change in the Country, the strengthening of PEMEX could be increased with support of the process of migration of Oil Assignments (Farmouts).

Fracking is a technique that is required to obtain physical resources, in the United States the increase in production is known derived from the use of this technique. Thanks to it, a high production of liquids and gas is obtained which are offered at a low price to countries like Mexico. Fracking in Mexico is a prospective resource since, whether or not it can be used as a production technique depends of a previous exploration in order to know if it can be extracted profitably since the operation in Mexico might be more expensive.

Using all the tools provided by the current legal framework in Mexico regarding energy is essential for PEMEX to increase its technical execution and financial capacity in such a way that it shares the risk.

Successful decisions will give more opportunities for the development not only of the sector, but also of the human component that makes it possible, such as engineers, people who have service companies, investors, among others.

If you want to know more information about experts from the Energy Sector in Mexico, click on the video to see the interview of Gaspar Franco Former Commissioner of the CNH and Graciela Álvarez Hoth, General Director of NRGI Broker.

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Mexico oil production to reach 2.6 mil b/d by 2025: Lopez Obrador

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S&P Globals Platts / Wendy Wells / Daniel Rodríguez / September 11

 

Mexico City — Mexico’s President-elect Andres Manuel Lopez Obrador said Sunday he plans to focus on developing and exploring onshore and shallow water areas under the control of state oil company Pemex to boost the country’s oil production.

“We have a projection, and our plan is to have production of at least 2.6 million b/d by the end of the presidential term; additional production of 800,000 b/d,” Lopez Obrador said in webcast press conference.

Lopez Obrador was speaking to journalists after a meeting with Mexican drilling and oil service companies at Villahermosa in Tabasco.

Mexico’s production averaged 1.8 million b/d in July, down from an historical high of 3.4 million b/d in 2004, latest data from Mexico’s National Hydrocarbon Commission showed.

Lopez Obrador said the incoming administration plans to tender drilling contracts in December when his six-year term begins to develop Pemex’s shallow water and inland areas to boost oil production. “We are inviting all companies to participate in these tenders. However, we will have a preference over domestic contractors,” he added.

He said he planned to add Peso 75 billion ($3.9 billion) to Pemex’s exploration and production budget to boost drilling and thus raise output. The tenders will help Mexico reverse its production downtrend by the end of 2019, he added.

Mexico’s oil industry is at a crisis as a result of low public investment in the sector. Pemex in 2017 had an E&P capital expenditure budget of Peso 81.5 billion, down from Peso 222 billion in 2014, the company’s annual financial statements show. The cut in Pemex’s budget resulted in a significant decrease in drilling activity; it drilled 83 wells in 2017, compared with 705 in 2013.

Lopez Obrador blamed the previous administration for Pemex’s lower capital expenditure, claiming it was done on purpose amid expectations the private sector would offset lower activity from the state company. “It has been a complete failure, this wrongly named energy reform,” Lopez Obrador said

The president-elect has historically been an opponent of private participation in Mexico’s energy sector. His critics note Pemex’s spending cuts reflect lower global oil prices after 2014.

The president-elect neither mentioned the long-term nature of the energy sector nor the advances made by Eni at Amoca, PanAmerica with Hotchi and Talos with Zama, where peak production across the three fields could be above 250,000 b/d.

Analysts also point out that Lopez Obrador does not acknowledge that it has been a challenge for Mexico to replace production from the aging Cantarell super field, which produced 2.1 million b/d in 2003 and but 160,000 b/d in July.

Mexico won’t call for new hydrocarbon auction rounds until all 107 contracts awarded to date under the energy reform are reviewed for corruption, Lopez Obrador said.

“The majority aren’t working, there is no investment, but those 107 contracts don’t include all the oil regions in the country, just a fraction of Mexico’s hydrocarbon potential,” he added.

The president-elect did not indicate when this contract review process could conclude. Currently, Mexico’s National Hydrocarbon Commission is organizing two gas-rich auction rounds, which are expected to be awarded in February.

The commission postponed both auctions as well as a Pemex’s auction to farm out seven onshore clusters in southern Mexico from this summer until the coming year, citing a request from the industry for more time to analyze the areas as well as the opportunity to involve the incoming administration in the process.

Lopez Obrador said the state owns all of Mexico’s oil resources, and has greater control over areas that have not yet been assigned. “The greater majority of our oil potential is still under the control of Pemex,” he added.

 

S&P Globals / Wendy Wells / Daniel Rodríguez / September 11

 

Enbridge (ENB) Commences Mex-Border Pipeline’s Offshore Work

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Zacks Equity Research / June 14

 

Enbridge Inc. (ENB – Free Report) recently started construction work on its Valley Crossing natural gas pipeline’s border crossing offshore part, per Reuters. The $1.6 billion pipeline that lies between Mexico and Texas is scheduled to come online in October.

The energy infrastructure company is currently working on a 305-meter part of the pipeline’s offshore section, while the rest 165-mile onshore and offshore section is ready for operation. The company has plans to start the pipeline’s commissioning process soon.

Significance of the Pipeline

The Valley Crossing pipeline has a shipping capacity of 2.6 billion cubic feet of natural gas per day (Bcf/d). It will transport gas from Texas to Mexico’s growing energy market. Following the energy reform in Mexico, the country witnessed a rising interest from international oil and gas companies.

Energy-related imports have risen in the country over the past few years. Mexico’s year-to-date average gas import from the United States currently stands at 4 Bcf/d.

The pipeline is designed to supply clean burning gas primarily to the Mexican state-run utility company, Federal Electricity Commission aka CFE, which has around 37 million clients. Moreover, the pipeline is expected to open new market opportunities for the gas producers in Texas. As a result, Enbridge’s cash flow is expected to benefit immensely.

There’s More

The Valley Crossing pipeline would to be connected to the Sur de Texas-Tuxpan pipeline in the Gulf of Mexico, and is expected to create a huge pipeline network between the United States and Mexico. The Sur de Texas-Tuxpan pipeline is currently being built by a joint venture between Sempra Energy (SRE – Free Report) and TransCanada Corp. (TRP – Free Report) .

Price Performance

Calgary Canada-based Enbridge has lost 14% in the past year compared with 7.4% decline of its industry.

Zacks Rank and One Stock to Consider

Enbridge Energy carries a Zacks Rank #3 (Hold). Investors interested in the Energy sector can opt for a better-ranked stock like Delek US Holdings, Inc. (DK– Free Report) that sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Brentwood, TN-based Delek is an energy company. The company’s top line for 2018 is anticipated to improve 39.2% year over year, while its bottom line is expected to increase 230.2%.

 

Zacks Equity Research / June 14

 

¿POR QUÉ LOS SEGUROS Y NO OTRAS GARANTÍAS FINANCIERAS EN EL SECTOR HIDROCARBUROS?

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Las garantías financieras son instrumentos a través de los cuales los titulares de los contratos  garantizan el cumplimiento de las obligaciones asumidas.

Entre éstas se encuentran los seguros que, en estricto sentido, se definen como un contrato bilateral, a través del cual una de las partes (el asegurado) obtiene, a cambio del pago de  una prima, la protección de una determinada suma económica que la otra parte (la aseguradora) se compromete a pagar en caso de que se presente un hecho no deseado, fortuito, súbito e inesperado, determinado previamente en la póliza de seguro.

La principal característica de los seguros es la de fungir como un respaldo económico ante diversas contingencias, ya sea que recaigan en el mismo asegurado o un tercero afectado, como consecuencia de una acción u omisión del asegurado.

Un claro ejemplo del primer caso es un seguro de gastos médicos mayores, donde en caso de que el asegurado presente un padecimiento considerado como gasto médico mayor, la aseguradora deberá pagar el monto establecido como indemnización.

En el segundo caso, se configura la responsabilidad civil, según la cual aquel que cause un daño a un tercero en su persona o en sus bienes está obligado a repararlo. De manera que si el asegurado causa un daño a otro, la aseguradora deberá indemnizar al afectado.

Los seguros en el sector hidrocarburos fueron regulados a partir de la Reforma Energética. El artículo 6, fracción I, inciso c, de la Ley de la Agencia de Seguridad, Energía y Ambiente (ASEA), se establece la facultad de dicha Agencia, para:

“Regular el requerimiento de garantías o cualquier otro instrumento financiero necesario para que los Regulados cuenten con coberturas financieras contingentes frente a daños o perjuicios que se pudieran generar. Dicha regulación deberá contar con la opinión favorable de la Secretaría de Energía y de la Secretaría de Hacienda y Crédito Público”.

Hasta la fecha únicamente se ha regulado en materia de seguros para las actividades de exploración y extracción de hidrocarburos, tratamiento y refinación de petróleo y procesamiento de gas natural, a través de las Disposiciones Administrativas en materia de Seguros  (DACGS), en donde se establecieron los elementos y características con los que deben contar los seguros de control de pozos y responsabilidad civil-ambiental que deben contratar los regulados.

Ahora bien, es importante preguntar por qué las autoridades mexicanas decidieron requerir seguros sobre otras garantías financieras en el sector hidrocarburos:

  • Son el instrumento financiero más utilizado en el mundo por empresas petroleras. En países como los Estados Unidos de América, Brasil, Colombia, Reino Unido, Australia y Noruega se privilegia la adquisición de seguros para respaldar las operaciones nacionales e internacionales de las empresas.
  • Es muy expedito el proceso de autorización y emisión del seguro, cubre un gran número de riesgos propios del sector hidrocarburos. A través de los seguros adecuados, es posible cubrir desde un accidente personal hasta un descontrol de pozos que provoque un daño catastrófico.
  • No importa la fase operativa o la situación financiera de la empresa contratante del seguro. El seguro estará vigente siempre y cuando se paguen las primas correspondientes.
  • Su costo se reduce a las primas y, por ende, no inmoviliza capital.

 

En NRGI Broker, somos expertos en seguros para el sector hidrocarburos. Acércate a nosotros, con gusto te atenderemos.

 

 

Mexico’s Billion Dollar Oil Industry Ripe for the Picking

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Baystreet Staff / May 22

 

It may have taken the better part of a century, but Mexico figured out that their state-owned energy monopoly, PEMEX, was a business model that just wasn’t working out. After hammering out legislation in 2013 to denationalize the nation’s oil and gas industry, the worst thing that could happen, did; oil prices collapsed, and companies globally hit the brakes on spending. What was expected to be the opening of floodgates to invest in arguably the biggest energy opportunity today didn’t happen quite as expected. With oil prices climbing to fresh three-and-a-half year highs, all that is changing and the Mexico’s oil space is starting to heat up with investment of $150 billion now secured.

As it happens, investors’ conservative approach worked perfectly in favor of Steve Hanson and his team at International Frontier Resources Corp. (TSX-V: IFR) . “We knew that we were heading to Mexico for the first onshore licensing round to build the cornerstones of our operations,” Hanson said in a phone call with Baystreet.ca. “We were in a strong financial position with a clear mission to become the next energy leader in Mexico. Others staying on the sidelines as oil bottomed in 2016 really worked to our benefit as a first-mover in Mexico’s energy reform.”

The savvy leadership at IFR, formed an equal partnership with a Mexican petrochemical giant, as a result, this Canadian company became the first foreign-owned joint venture (JV) and independent oil company to actively explore onshore opportunities in Mexico in over 80 years. Through its strategic JV, IFR is also the first foreign company to complete the regulatory review and drill onshore conventional oil in Mexico under license contract. You’d think it would have been a major like Halliburton (NYSE: HAL) or Baker Hughes (NYSE: BHGE) or Schlumberger (NYSE: SLB), companies that were already working in the area as service providers to PEMEX, but it wasn’t. It was a little $30 million market cap. company that was nimble enough to beat everyone to the punch.

“We weren’t afraid of the price of oil. Not even at the $40 per barrel that oil was fetching at the time; we knew we could still make money based on our expertise and interpretation of the geology,” said Hanson. “At $70 oil, we’re obviously excited with our position, ” he added.

Confident for Good Reason

Hanson’s confidence isn’t unfounded. He has over two decades of well-grounded experience in finance and corporate development, serving as chairman and managing director at the award-winning equity money management firm Van Arbor Asset Management before selling it with a sizable payout to the ZLC Private Investment Management in 2008. Next he was the CEO and president of PanAsian Petroleum that was sold profitably to Ivanhoe Energy, shortly after Hanson took charge. Likewise, that was followed by serving as a director at Lion Petroleum, a company focused on oil and gas in East Africa which was then acquired by Taipan Resources.

IFR’s management team is the embodiment of success and has experience across the finance and energy spectrum throughout the globe, including COO and director Andy Fisher, who has a history of taking companies with negligible assets to robust oil and gas production. For instance, he founded Arcan Resources and grew it from no production to 4,000 barrels of oil equivalent per day (boe/d), before the company was sold to Aspenleaf Energy Ltd., in June 2015 for CDN. $300 million. He was also VP, international contracts and negotiation, at Pacalta Resources Ltd. (“Pacalta”) in Ecuador, where he helped in growing the company from 100 boe/d in production to roughly 45,000 boe/d. In 1999, Alberta Energy Co., the predecessor to EnCana’s (TSX: ECA) (NYSE: ECA), bought Pacalta in a deal worth approximately CDN. $1.0 billion!

For the sake of brevity, the profiles of everyone contributing to IFR’s future can’t be covered; however, it certainly is worth mentioning that Colin Mills, an independent director at IFR, has more than three decades of diverse international experience in power generation, including building two power plants in Mexico, which adds to the local advantage of IFR in terms of navigating the regulatory environment in Mexico.

The commitment and confidence of these individuals to IFR is best recognized based on the fact that insiders hold more than one-third of the company’s outstanding shares.

It’s this experience and dedication at IFR that led to the formation of Tonalli Energia, a 50-50 JV between IFR’s Mexican subsidiary, Petro Frontera S.A.P.I de CV, and Mexican petrochemical giant Grupo IDESA. As a first mover, the partnership and its in-country experience gives Tonalli a serious competitive edge to catapult it forward into becoming the next energy leader in Mexico.

The Tecolutla Project – Now a Producer!

Imagine every bit of oil in Texas was controlled by one company for the last 80 years. That’s a rough analogy for what has been going on in Mexico. It’s explored enough (both on- and offshore) to know that there are tremendous reserves, possibly comparable to the all-resilient Permian Basin, but woefully little with respect to extracting oil and gas. Right now, Mexico ranks as the Western hemisphere’s third largest oil producer and host of the fourth largest known oil reserves.

Those could be conservative positions in the future considering Premier Oil last summer made a major offshore discovery in a block next to Talos Energy and Sierra Oil and Gas that is estimated to hold in excess of one billion barrels of oil that possibly extend into the adjacent block. This was discovered through the first shallow water offshore exploration well drilled since denationalization. Shares of Premier rocketed higher with the find. “Few think of Mexico in the same terms as Saudi Arabia, despite the fact that Mexico has similar quantities of hydrocarbon resources,” argued a recent report published by Manhattan Institute for Policy Research. However, this is about to change with higher oil prices and growing investor interest.

Lending further credence to Mexican oil potential, IHS Markit thinks the country’s untapped Tampico-Misantla Basin on the east coast of Mexico could be one of the world’s next “super basins.” Part of the basin includes the massive Poza Rica oil field, estimated to contain 3.8 billion boe, and IFR’s Tecolutla project which has now commenced completion operations for its recently drilled TEC-10 well.

The Tampico basin is known to have geology similar to the prolific North American basins, with stacked conventional and unconventional pay zones. In fact, IFR recently drilled 138 meters of reef thickness at its directional evaluation, TEC-10 well. It is also known that such basins tend to have “halo” zones of tight oil (light oil that is easily produced) surrounding them, this may be supported by the limited amount of exploration that has so far occurred at Tecolutla.

Seven wells were drilled between 1956-1972, with a well with last recorded production rates in January 2016. IFR announced the completion of a successful workover of a legacy TEC-2 well which was tested for production for a total of seven days and far exceeded management expectations. The well reported an average flow of 125 barrels of oil per day which was more than 13 times higher compared to last recorded production on the well! Newly drilled TEC-10 is next to test for production rates which is the most exciting moment for IFR JV since its inception!

IFR was awarded the block in May 2016 with no cash payment, merely a royalty agreement which offered one of the most favourable terms in comparison to the royalties on other blocks offered during the bid round. Furthermore, Export Development Canada (EDC) backstopped IFR by putting up the company’s portion of the performance bond required by Tonalli, allowing the company to conserve its cash, while lending a great deal of validation to the project. IFR ended the first quarter of 2018 with $2.81 million in cash and cash equivalents and no debt.

The first drill rig penetrated the ground in April, reached depth of 2,453 meters total vertical depth and was cased for production testing this month which was a historic moment for the Mexican oil and gas sector. Several points stand out when looking at the disclosed results, namely the fact that visible oil was noticeable from the core and the fact that oil was hit at deeper levels than oil was ever produced in the zone historically, indicating the El Abra reservoir at Tecolutla could have greater volume than ever believed.

Moreover, IFR, via Tonalli, is using modern exploration technology at Tecolutla for the first time. IFR is using the first-ever 3D seismic data shot for the whopping 81-billion-barrel Chicontepec formation with the aim of helping better understand Tecolutla field.

The beauty of the rock, according to Hanson, is not just that it is apparently flush with oil, but naturally fractured as well, making horizontal drilling easy, without the need for fracturing that draw the ire of environmentalists. These characteristics mean that the drilling is low cost, to the extent that Hanson believes the company can produce profitably at a cost of less than $20-$25 per barrel.

The Upcoming Catalysts

IFR is presently working on production testing, continuing analysis of the wireline, image logs and core analysis, refining the 3D seismic model and identifying the next drill target. The JV is looking ahead to the second tender of Round Three of bidding for projects (scheduled for September 27, 2018). Given the surge in value that Premier Oil experienced with its find, any positive data regarding the initial drill hole underpinned by historic production, should energize IFR shares and likely drive the attention of the investment community.

“We started IFR and moved aggressively in Mexico with the purpose of building a billion-dollar company,” Hanson added during the call. He continued, “We are very proud of being a first-mover in what we believe is going to quickly emerge as one of the most vibrant energy markets in the world and we’re not going to relent in our efforts to build value just as we have with previous companies.”

It’s difficult to disagree with anything Hanson says. They have nailed all of their milestones so far and certainly have plenty of running room to add to their portfolio. They have an outstanding partner in Grupo IDESA, the backing of EDC, are fully-funded for the existing work program, all the necessary infrastructure is in place, and they have outstanding experience across the entire supply chain that should allow IFR to sell oil at a price that couldn’t be realized anywhere else in the Western hemisphere.

Now, if they just start to prove the oil and the economic viability of the resource as they believe, IFR should be off to the races as the company looks to notch the next major success in their already impressive accomplishments.

Disclaimer: Nothing in this article should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this article is not provided to any individual with a view toward their individual circumstances. Baystreet.ca has been paid a fee of four thousand dollars for International Frontier Resources Corp. advertising. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this article as the basis for any investment decision. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in this article is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.

 

Baystreet Staff / May 22

 

Proveedores y prestadores de servicios para las operaciones de Exploración y Extracción de hidrocarburos en el mar

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En un sector tan complejo como el de los Hidrocarburos, las empresas no pueden ser autosuficientes, por lo que requieren que terceros les provean de bienes y servicios que les permitan llevar a cabo sus actividades.

La exactitud, prontitud y calidad con la que proveedores y contratistas presten sus servicios son factores indispensables para el adecuado funcionamiento de una organización.

En el caso específico de las empresas que realizan actividades en el Sector Hidrocarburos, al desempeñarse en un ámbito de alto riesgo requieren la certeza de que sus proveedores y prestadores de servicios desempeñarán sus tareas con los más altos estándares de seguridad, para evitar la ocurrencia de accidentes, que pongan en peligro la vida y/o integridad de personas, daños a bienes o al medio ambiente.

Por eso, de acuerdo con las Disposiciones Administrativas de carácter general que establecen las reglas para el requerimiento mínimo de seguros a los Regulados que lleven a cabo obras o actividades de exploración y extracción de hidrocarburos, tratamiento y refinación de petróleo y procesamiento de gas natural (DACGS), emitidas el 23 de junio de 2016, las empresas del Sector Hidrocarburos que realicen las actividades antes mencionadas, deben requerir a sus contratistas, subcontratistas, proveedores o prestadores de servicio que cuenten con pólizas de seguro con las coberturas y montos necesarios y suficientes para amparar la responsabilidad por los daños que pudieran generar con motivo de las obras, servicios y/o actividades que realicen.

En este sentido, es responsabilidad de las empresas titulares de las licencias para operar, asegurarse que sus proveedores y contratistas podrán responder por los daños que llegaran a causar en el desarrollo de sus operaciones, además de que deberán contar con las coberturas de control de pozos, responsabilidad civil y responsabilidad ambiental, de acuerdo con la regulación aplicable.

En el caso de los montos, por ejemplo, una empresa que lleve a cabo la exploración y extracción de hidrocarburos que requiera de lanchas rápidas y embarcaciones menores de servicio y para ello contrate los servicios de otra empresa que se dedique al transporte marítimo, deberá solicitarle sus pólizas de seguro de protección e indemnización (P&I) por un monto no menor a USD 5´000,000 (cinco millones de dólares de los Estados Unidos de América), de conformidad con  el artículo 29, fracción II de las DACGS. En caso de que las embarcaciones que sean utilizadas no estén listadas en el artículo antes mencionado, la fracción V del mismo dispone que la póliza de seguro sea por un monto no menor a USD  100,000,000.00 (cien millones de dólares de los Estados Unidos de América).

En NRGI Broker somos expertos en seguros de protección e indemnización y en regulación en materia de seguridad industrial y protección ambiental. Acércate a nosotros, con gusto te atenderemos.

 

Los beneficios sociales de la Reforma Energética

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Cuando se promulgó la Reforma Energética a finales del año 2014, fueron diversos los beneficios sociales anunciados por el Gobierno Federal, entre los que se encontraban: 1) la creación de empleos; 2); el aumento de recursos públicos que serían utilizados para la construcción de escuelas, hospitales y el mejoramiento de servicios públicos en general, y 3) el aprovechamiento sustentable de los recursos naturales.

A poco más de tres años de la puesta en marcha de la Reforma Energética, es importante preguntarse si estos beneficios se han cumplido o tienen posibilidades de hacerse realidad, lo anterior, teniendo como base la idea de que estamos hablando de un proyecto de largo plazo, cuyas bondades requieren de tiempo para madurar. No obstante, podemos mencionar algunos datos que ya es posible vislumbrar.

Actualmente, más de 70 empresas nacionales e internacionales se encuentran realizando actividades para la exploración y extracción (E&E) de hidrocarburos en México, a través de los más de 100 contratos que ya se han adjudicado en los procesos de licitación organizados por la Comisión Nacional de Hidrocarburos (CNH), y que se traducen en inversiones comprometidas de más de 200 mil millones de dólares.

Todas estas empresas requieren de una variedad de servicios y personal capacitado para llevar a cabo sus operaciones en nuestro país, lo que trae consigo la creación y/o reactivación económica de empresas mexicanas, así como empleo para diversos profesionistas en lo individual; esto además, facilita a los contratistas cumplir con sus obligaciones de contenido nacional. De acuerdo a estimaciones de la Secretaría de Energía, se espera la creación de 230 mil a 900 mil empleos durante los próximos 15 años[1].

En cuanto a mayores recursos públicos para el Estado, los contratos de E&E, prevén diversas contraprestaciones a su favor, entre las que se encuentran regalías, bonos y pago de impuestos; además, México obtiene, en promedio, el 70% de utilidad de los mencionados contratos[2]. Hoy en día ya es posible hablar de importantes éxitos como el pozo Zama, perforado por la empresa Sierra Oil & Gas, de capital mexicano, el cual es definido como uno de los más grandes descubrimientos de los últimos 20 años; o el campo de la empresa italiana Eni, que ha resultado ser más productivo de lo que inicialmente se pronosticó. Dichos éxitos se verán reflejados también en las finanzas públicas.

Por último, en cuanto al objetivo de aprovechar sustentablemente los recursos naturales, la Agencia de Seguridad, Energía y Ambiente (ASEA) ha puesto especial atención en regular los aspectos relacionados con la seguridad industrial y protección ambiental, a fin de procurar que las actividades de la industria de los hidrocarburos no causen daños a terceros, en sus bienes y personas, instalaciones y medio ambiente.

Una de las medidas tomadas al respecto consiste en la obligación que tienen los operadores del sector hidrocarburos de contratar seguros de responsabilidad civil- ambiental y control de pozos, una efectiva garantía financiera, cuyo propósito es asegurar que contarán con los recursos necesarios para reparar los daños que causen en el desarrollo de sus actividades.

En NRGI Broker hemos participado activamente en la Reforma Energética y conocemos su regulación. Para contratar seguros, acércate a nosotros, somos los expertos y con gusto te atenderemos.

[1] https://www.animalpolitico.com/2018/02/900-mil-empleos-pemex/

[2] https://www.eleconomista.com.mx/empresas/Enfatizan-beneficios-de-reforma-energetica-20171206-0020.html

Mexico Energy Reform Slowdown Would Be ‘A Shame,’ Pemex CEO Says

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FROM: Bloomberg / Adam Williams / 7 de marzo de 2018

Mexico’s 2013 decision to end the government monopoly on energy has resulted in billions in investment and the arrival of dozens of international oil companies.

Carlos Trevino, Petroleos Mexicanos’s new chief executive officer, thinks it would be unfortunate for that to be interrupted by the next administration.

The top concern of Trevino, who took over at Pemex in November, is that Mexico will elect a president in July that will “slow down the energy reform pace,” he said in an interview with Bloomberg Television at the CERAWeek by IHS Markit event in Houston.

“Someone who doesn’t believe in the energy reform may reduce the speed very much and I think that would be a shame in Mexico,” Trevino said. “The energy reform has a lot of benefits to the country, to the people, so the the worst case scenario in my point of view is that the speed that we are implementing the energy reform will be reduced.”

Trevino’s concern matches that of many energy industry leaders in Mexico, which has signed more than 90 oil and gas production contracts with international majors such as Royal Dutch Shell Plc, Chevron Corp. and Exxon Mobil Corp. since a landmark 2015 crude auction. Presidential front-runner Andres Manuel Lopez Obrador, who leads polls ahead of the July 1 election, has vowed that his administration will slow the pace of the current oil auctions and review contracts signed by the current government.

A reversal or significant modification to the overhaul would be “almost impossible because to change the energy reform you will need to change the constitution,” Trevino said. It would require a majority in Mexico’s upper and lower houses and it “is really difficult for any president to have that amount” of support.

“It is possible but improbable,” Trevino said. “We have a lot of certainty on what is going to happen in the future no matter who wins the election.”

Refining partner
Pemex, which has reiterated that partners will improve crude production and refining margins, will formalize a joint-venture agreement with Mitsui & Co. at its flagship refinery this month, Trevino said. The partnership with Mitsui is an estimated $2.6 billion deal that will increase production to help reduce the nation’s reliance on imported fuels.

Pemex also expects to sign at least one additional refinery partnership as soon as this summer, Trevino said, without providing additional details. The company continues to seek partners for refinery auxiliary services in areas such as power generation, water treatment and steam generation, he said.

he partnership with Mitsui is an estimated $2.6 billion deal that will increase production to help reduce the nation’s reliance on imported fuels.

Pemex also expects to sign at least one additional refinery partnership as soon as this summer, Trevino said, without providing additional details. The company continues to seek partners for refinery auxiliary services in areas such as power generation, water treatment and steam generation, he said.

The company’s Salina Cruz refinery, which was offline for several months last year following a series of natural disasters, is operating at half of its capacity, processing around 150,000 daily barrels, according to Trevino. Pemex’s Madero refinery, which is in the process of a restart, is currently processing between 60,000 and 80,000 barrels, he said. The Madero refinery, which has the capacity to process 190,000 barrels per day, should ramp up to normal rates at the end of the month.

Oil Auctions
Pemex, which won rights to develop four deep water areas in Mexico’s Jan. 31 auction, is going to bid for a few block in the March 27 tender of 35 shallow water zones, he said. Pemex would prefer to bid in partnerships but is willing to go it alone if need be, Trevino said.

The company, which launched its own oil hedge last year to safeguard against a potential price drop, will continue the program next year, Trevino said.

 

 

FROM: Bloomberg / Adam Williams / 7 de marzo de 2018

México 2018: un nuevo capítulo de la Reforma Energética

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A cuatro años de su implementación, los avances de la Reforma Energética en México son indudables: 1) se han creado 66 empresas de exploración y producción (E&P); 2) se han firmado 70 nuevos contratos de E&P a través de las 7 licitaciones realizadas, lo que representa inversiones comprometidas por 77,000 mdd; 3) 11 empresas de gasoductos se encuentran operando para aumentar la eficiencia del transporte, así como 45 empresas de almacenamiento actividad que se ha vuelto estratégica ante hechos como la libre importación de combustibles; 4) 18 nuevas marcas de gasolineras y, por último, 5) Pemex ha encontrado socios para la explotación de los campos Trión, Cárdenas Mora y Ogarrio, a través de los farmouts, además de que cierra el año con la buena noticia sobre el descubrimiento del campo Ixachi, que se encuentra muy cerca de la prolífica zona de la “Faja de Oro”.

En 2018, empezará a escribirse un nuevo capítulo de la Reforma Energética, en el que habrá que darle continuidad a los objetivos plasmados en el Plan Quinquenal de Licitaciones 2015-2019 y en donde el principal desafío será la sucesión presidencial, sobre todo para evitar que la efervescencia habitual de los procesos electoral y pos-electoral impida el incumplimiento de las acciones programadas en tiempo y forma.

En primer lugar, se deberán concretar las licitaciones que ya se encuentran en progreso, tales como la Ronda 2.4 (aguas profundas) y los farmouts Ayin-Batsil y  Maximino-Nobilis, cuyos términos de licitación serán replanteados por la CNH en el transcurso del año.

Asimismo, se llevarán a cabo las licitaciones correspondientes a la Ronda 3, cuya primera emisión ya está publicada (Ronda 3.1. Aguas someras) y la Ronda 2.5, para campos terrestres no convencionales (shale) que, aunque no estaba prevista, se llevará a cabo antes de que finalice la presente administración.

Todo lo anterior, nos deja ver que 2018 será un año muy dinámico para la industria de los hidrocarburos y petrolíferos: las empresas participantes deberán poner en marcha o continuar con sus operaciones y cumplir con la diversidad de obligaciones establecidas en su contrato y en la regulación aplicable, tales como la contratación de seguros; la elaboración de la Línea Base Ambiental y la conformación e implementación del Sistema de Administración de Seguridad Industrial, Seguridad Operativa y Protección Ambiental (SASISOPA). Para ello, se requiere la asesoría de expertos en dichos temas que garanticen resultados exitosos.

NRGI Broker es experto en seguros para la industria de los hidrocarburos y además cuenta con alianzas estratégicas con empresas líderes en servicios legales, consultoría ambiental y control de pozos. Acércate a nosotros, con gusto te atenderemos.

‘Gasolinazo’ Infuriates Mexico and Taints Flagship Energy Reform

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Mexico is bracing for a series of protests as the opposition threatens a “peaceful revolution,” after the government of President Enrique Pena Nieto announced plans to raise gasoline prices by the most in two decades.

Gasoline will soar as much as 20 percent in January as the nation moves away from subsidies that have burnt a hole in public coffers, the Finance Ministry led by Jose Antonio Meade announced this week.

The price slam, or “gasolinazo” in Spanish, is going to hit hard, with Mexicans tying with South Africans to spend more of their annual income on fuel than residents of 59 other countries tracked by Bloomberg. The hike may also taint Pena Nieto’s flagship energy reform passed in 2013, emboldening opposition leaders such as Andres Manuel Lopez Obrador to strike out against the overhaul that opened the industry to foreign investment for the first time in almost eight decades.

“This is very grave, because it will give a bad name to the energy reform, even though it isn’t the fault of the reform,” said Alejandro Schtulmann, president of Mexico City-based political-risk advisory firm Empra. “Lopez Obrador could empower his rhetoric by saying he’ll make changes to the energy reform.”

Pena Nieto had said the overhaul would help lower energy prices by increasing competition. Now, the hashtag #ReformaEnergetica has become a trending topic on twitter, with many people saying they’d hoard fuel from gas stations that are already suffering shortages in several states. Illegal gasoline sales have cropped up in 10 states amid the scarcity, Reforma newspaper reports. Protests are scheduled for Jan. 1 in Mexico City and Guadalajara and have already taken place in Tamaulipas state.

Jesus Zambrano, a lawmaker with the Democratic Revolution Party, called for a “peaceful revolution,” including boycotts at gas stations. Even Concamin, a leading industrial trade group, raised concern about cost pressures.

Pena Nieto already suffers from the lowest popularity of any Mexican president in two decades amid rising violence and corruption scandals. That’s hurt his Institutional Revolutionary Party’s chances in the 2018 presidential race as well as this year’s gubernatorial elections.

“The president hoped that the reforms would be his legacy,” Carlos Loret de Mola, a leading Televisa newscaster, wrote on his Twitter account. “With the gasolinazo, he has buried” the reforms.

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Copyright: Bloomberg