Tag Archive for: petróleo

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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Offshore Project Development: The Road to First Oil

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As new offshore operators continue to settle into their awarded blocks and develop them into a stable production phase as quickly as possible, new models of collaboration between the public and private sectors must arise in view of the new administration’s focus on PEMEX, panelists at the Mexico Oil & Gas Summit 2019, said on Wednesday July 17 in Mexico City.

Private operators and service providers are ready to comply with government plans: Graciela Alvarez Hoth, panel moderator

According to Graciela Álvarez Hoth, CEO of NRGI Broker, both private operators and Mexican service providers are ready to collaborate with the government’s plans to strengthen the NOC while also building upon the many successes achieved in a short period of time within the fields awarded through the bidding rounds. “The number of new discoveries highlights the need for exploration activities to capitalize on the available opportunities in the country,” she said.

Álvarez Hoth made her remarks on the first day of the two-day summit held at the Sheraton Maria Isabel Hotel as part of her introductory remarks to the panel she moderated, entitled “Offshore Project Development: The Road to First Oil.”

Four panelists from key public and private institutions provided a crucial mix of perspectives on Mexico’s offshore development, particularly in terms of achieving production in new shallow water fields.


“Talos Energy wants to have a positive impact in Mexico. The president has set his production goal and our goal is to do our part to help. ”

Francisco Noyola, Country Manager of Mexico for Talos Energy, was the first to provide the necessary background with a chronology of Talos’ success with its Zama discoveries, of which the latest appraisal well, Zama-3, was completed this past June.

He highlighted the historical breakthroughs made by Talos in the Mexican context, which have included the most core samples extracted (over 440m) and the first block unification agreement with PEMEX in Mexico’s history.

The historical dimension of these milestones promoted a transparent relationship with regulators and authorities that he believes plays a key role in their current and future success. “Talos wants to have a positive impact in Mexico. The president has set his production goal and we aim to do our part to help,” Noyola said.

“The success of MARINSA as a driller is to be committed to the objective of increasing production to contribute significantly to what Pemex and the Government of Mexico have established”

The panel then progressed toward the perspective of another private player whose successes have also been quite public as of late: Marinsa, represented by Chief Strategy Officer Sergio Suarez. After detailing the ways in which the crisis period during 2016 and 2017 prepared them for the road ahead, Suárez said that “The development of Marinsa has been the strengthened result of a set of readjustments to meet the needs of the national market and hill mentioning that Mexico has “qualified, strong Mexican suppliers and “under the conditions established by the current administration, being a national player gives us a competitive advantage. However, we also have strong alliances with international companies. ”

The CNH has had to experience “logarithmic learning” in order to perform its functions as a regulator, now it could reach response times for approvals as low as 34 days on average

Fausto Álvarez Hernández, Head of the Exploration and Production Compliance Unit at CNH, provided a direct public sector assessment of the success factors for offshore projects looking for a quick launch procedure.

He noted that CNH has had to experience “logarithmic learning” in order to perform its duties as a regulator as effectively as possible. He also praised the efficient path forward forged by ENI, Hokchi and Fieldwood toward first oil and eventual full production, which might total up to 220Mb/d from all three. “Optimization has been a key priority for CNH, particularly in approvals, as well as simplification in the documentation needed to present a project,” he said.

He also made a point of specifying that CNH now could reach turnaround times for approvals as low as 34 days on average, which he considers an extremely important component of fast offshore development.

Transparency and a long-term vision are key to sustainable social development projects. Enviromental Resources Management (ERM)

The fourth and final participant in the panel was Alberto Sambartolomé, Senior Partner at ERM, which has participated significantly in the sustainability assessments of many of Mexico’s offshore production projects. He  highlighted the chief importance of efficiently introducing new operators to the legal and social expectations of the Mexican environment.

This not only leads to reduced downtime for drilling and development through quick regulatory compliance, but it also ensures the longevity of production once first oil is reached.

Projects that engage with regulators and communities early and promptly can look forward to productivity uninterrupted by protests or shutdowns, he said. “Transparency and a long-term vision are key for sustainable social development projects.”

Our country has a historic opportunity to demonstrate the competitiveness of the sector and recover its place in the world as an oil country without losing its vision of social development and environmental responsibility, thus concluded Graciela Alvarez Hoth this applauded panel.

Mexican President Weighs Bids on Huge New Oil Refinery Construction

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Sputnik News / Latin America / December 10

 

MEXICO CITY (Sputnik) – Mexico’s new President Andres Manuel Lopez Obrador said on Sunday that tenders for the construction of a new large oil refinery in the country’s southeastern state of Tabasco would be announced no later than March 2019.

“The oil refinery will be built here because oil will be processed here as well, it will not be exported. This is the best site for the construction of the new refinery,” Obrador said at a ceremony of the laying of a symbolic cornerstone for the future facility as quoted by the Excelsior news portal.

The Mexican president also confirmed that the state-owned Pemex petroleum company would receive additional $3.6 billion to boost its oil production.

According to Obrador, Mexico will seek to increase oil production from the current less than 1.8 million barrels per day to 2.4 million barrels per day in 2024. The new oil refinery is expected to process 340,000 barrels of oil per day.

 

Sputnik News / Latin America / December 10

 

Mexico’s incoming government names ally from left to central bank

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Reuters / Frank Jack Daniel / November 26

 

MEXICO CITY (Reuters) – Mexico’s incoming finance minister on Monday nominated left-leaning economist Gerardo Esquivel as central bank deputy governor, the second appointment to the board by the new government following an independent named in September.

In a 2016 newspaper opinion piece, Harvard-educated Esquivel raised the question of whether the autonomous Banco de Mexico should adopt a dual-mandate to promote growth as well as low inflation, and argued for more diverse views on the board.

Esquivel was a spokesman on economic matters for the campaign of President-elect Andres Manuel Lopez Obrador. He is married to Lopez Obrador’s choice for economy minister, Graciela Marquez, and was previously due to serve as a deputy finance minister in the cabinet.

Lopez Obrador, who secured a landslide election victory in July, takes office on Saturday.

In his profile on Twitter, Esquivel says “his heart beats to the left.” In 2015 he co-authored an Oxfam study titled “Extreme Inequality in Mexico” that explored the rapidly increasing wealth of Mexico’s small group of billionaires.

He did not immediately respond to an interview request for this story.

In a December 2016 column in Mexican daily El Universal, Esquivel strongly defended the bank’s independence, but suggested a debate about whether to change its objective.

“Maybe what we should start to ask ourselves is whether it is time to move to a dual objective (growth and inflation) in the central bank, instead of a single objective (inflation), in the same way as happens in other countries, like the United States,” he wrote.

He also cited an article in which he said economist Jonathan Heath argued for “a plurality of visions and perspectives about the economy” on the central bank’s five-strong board.

Incoming finance minister Carlos Urzua nominated Heath to the board in September, to replace a departing deputy governor. Esquivel is replacing another deputy, who is standing down on health grounds.

Incoming finance minister Carlos Urzua told Reuters earlier this year that the central bank should preserve its single objective.

Heath is an outspoken and well-known private economist who was previously chief economist for HSBC bank in Mexico. He told Reuters in September he had a “balanced” view on monetary policy. He has been critical of the outgoing government as well as some of Lopez Obrador’s policies.

Both nominations must be approved by the Senate, which is controlled by Lopez Obrador’s MORENA party and its allies.

Urzua announced the appointment in a news conference aimed at calming investors, after Mexico’s S&P/BVM IPC stock index .MXXcrashed to its lowest in more than four years on Monday and the peso weakened.

Urzua later told Reuters he would name Victoria Rodriguez Ceja, another close ally who previously worked with him in Mexico City’s local government, to replace Esquivel.

The losses to the index and the peso MXN=, which slipped to its weakest against the dollar in more than five months on Monday, come after Lopez Obrador announced he would stop the construction of a $13 billion airport and after a series of bills from his party aimed at regulating business more closely.

 

Reuters / Frank Jack Daniel / November 26

 

Feature: Mexico’s oil industry cautiously optimistic of future energy policy

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S&P Global / Daniel Rodriguez / Edited by Pankti Mehta / October 1

 

Mexico City — Oil and gas executives attending last week’s Mexican Petroleum Congress (CMP) in Acapulco told S&P Global Platts that they were cautiously optimistic about the future of the country’s energy reform, pointing to higher oil prices and some clarification of President-elect Andres Manuel Lopez Obrador’s policies.

The conference took place as Lopez Obrador held a closed-door meeting with the country’s association of hydrocarbon producers, AMEXHI, on Thursday in Mexico City.

The incoming administration gave a firm message: Mexico will continue the energy reform and private upstream investment as long as they can deliver results by boosting output.

The meeting cleared some uncertainties that had built up since Lopez Obrador’s electoral victory in July. Obrador has been historically opposed to private investment in Mexico’s energy sector.

PRIVATE OPERATORS TO PRODUCE 280,000 B/D: LOPEZ OBRADOR

According to a video of the meeting obtained by Platts, Lopez Obrador told operators that the future of the reform rested on their shoulders.

“We want to give you the opportunity to invest and work on this reform,” Lopez Obrador said. However, companies must invest and boost output to prove the success of the country’s new energy model.

The president-elect said his goal is that private operators produce 280,000 b/d of crude oil and 305 MMcf/d of the natural gas by the end of his term in 2024. “That would be the ideal. We aren’t asking for more and we are happy with that level,” he said.

This is a very conservative projection compared to the 430,000 b/d estimate shared by outgoing Energy Secretary Pedro Joaquin Coldwell at the inauguration of CMP.

At a webcast press conference Thursday, Mexico’s future energy secretary Rocio Nahle said that auction rounds would be halted. She said the country first needs to evaluate the 110 contracts awarded to date because they have not helped boost domestic production.

“It would be irresponsible to continue auctioning areas without a previous production gain [from awarded areas],” Nahle said.

OPERATORS ARE CALM WITH INCOMING GOVERNMENT

AMEXHI members are allies of the state and can collaborate with Pemex to “continue strengthening Mexico’s energy security,” Alberto de la Fuente, AMEXHI’s president, said in a statement Thursday.

This message of partnership was also shared by senior executives from BHP Billiton, BP, Chevron, DEA Deutsche Erdoel, Equinor, and Shell at the CMP.

“We aren’t here to replace Pemex but to complement it and help to achieve the incoming administration’s goal of boosting oil output,” Steve Pastor, BHP Billiton’s president for petroleum operations, told Platts last week at the CMP.

De la Fuente denied that private operators were uncertain over the review of contracts awarded by the country’s National Hydrocarbon Commission (CNH).

In the statement, he said that AMEXHI members left the meeting with the incoming administration with the knowledge that Lopez Obrador will honor their contracts.

However, some industry members expressed their frustration to Platts at the conference about an apparent lack of understanding from the incoming administration on the long-term nature of the upstream industry.

INCOMING ADMINISTRATION WILL SEEK TO CUT RED TAPE

At the meeting with AMEXHI members, Lopez Obrador said his administration would work with regulators to cut the red tape and quicken the development of new projects.

“Some of you have told me permits take too long, and regulators delay your investment plans as well as Pemex’s activities,” Lopez Obrador said. “We are going to solve all bureaucratic roadblocks.”

Juan Carlos Zepeda, CNH’s president commissioner, told reporters Friday there was space to make the regulatory process leaner and more efficient while protecting the wellbeing of the country’s fields and hydrocarbon resources.

“We share views with President-elect Lopez Obrador and the industry … we are working toward that path without neglecting our responsibility of protecting Mexico’s reservoirs,” Zepeda said.

Right now, Mexico is more efficient than the US when it comes to the development of wells as CNH only requires notice from the operators instead of regulatory approvals, Zepeda said.

Also, CNH is working on a new process to expedite the approval of exploratory and development programs, which is currently under public consultation, he added.

A major regulatory roadblock for Mexico’s upstream sector has been Pemex’s framework to farmout projects via CNH auctions, Pemex senior officials said at CMP.

Zepeda said he supports the idea of Pemex being able to choose its own farm out partners. However, the company should maintain transparency levels upheld by CNH.

 

S&P Global / Daniel Rodriguez / Edited by Pankti Mehta / October 1

 

¿Por qué contar con un broker de seguros especializado en energía?

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Los seguros son instrumentos financieros de previsión que nos ayudan a reducir la incertidumbre económica sobre acontecimientos súbitos e imprevistos que puedan afectar el patrimonio de las empresas o de las personas. En sentido estricto, se trata de un contrato a través del cual una de las partes (la aseguradora) se compromete, a cambio de una prima, a indemnizar al asegurado en caso de que se lleve a cabo el evento amparado en la póliza.

 

Los seguros que se requieren en el sector energético son complejos, pues generalmente a través de ellos, se amparan grandes riesgos, como pueden ser operaciones de exploración y extracción de hidrocarburos en aguas profundas; transporte de petróleo por barco; tendido de ductos; construcción y operación de terminales de almacenamiento, etc.

 

Para asegurar estas actividades, es necesario conocer sus características, así como el tipo de riesgos a los que están expuestos, dado que: 1) son peligrosas por sus características de inflamabilidad y explosividad; 2) se les considera actividades altamente riesgosas; 3) es infraestructura de grandes dimensiones y con altos grados de inversión económica; 4) pueden encontrarse o recorrer zonas social y ambientalmente vulnerables y 5) están expuestas a las acciones u omisiones de contratistas, sub-contratistas y proveedores de servicio.

 

Derivado de lo anterior, para contar con la asesoría idónea  y contratar los seguros adecuados, es necesario contar con los servicios de un broker especializado en materia de energía.

 

Este tipo de brokerofrece asesoramiento profesional e imparcial para la contratación de los programas integrales de seguros, con las coberturas que pueden contratarse en México, pero también cuenta con la capacidad para colocar coberturas en el mercado internacional de reaseguro, cuando se trata de “grandes riesgos”.

 

Además, ofrece una variedad de soluciones innovadoras y puntuales que deben ajustarse a las necesidades particulares de cada negocio, dependiendo del perfil de la organización y de los riesgos a los que ésta se expone diariamente en sus operaciones.

 

El conocimiento de la industria petrolera y de los mercados de seguro y reaseguro, que este grupo de profesionales posee, les permite implementar y operar las mejores estrategias en la gestión de administración de riesgos, de conformidad con las necesidades de cada cliente para maximizar las oportunidades y limitar los riesgos.

 

México hace frente a un nuevo panorama con la Reforma Energética, que dará lugar a nuevos esquemas de contratación y participación en el sector de petróleo y energía.

 

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