2020-01-29 12:30:00
PEMEX INVESTMENT $1 BLN
ENERDATA - The Mexican oil company Pemex plans to invest more than US$1bn to develop and operate the Xanab offshore oil field, located in shallow waters off the state of Tabasco on the Gulf of Mexico. The company will invest US$734m in developing the field, US$246m in operating expenses and US$36m in other expenses.
Pemex has been operating the field since 2016, but its production has been declining significantly in recent years, from a peak of 174 kb/d in May 2017 to 75 kb/d in December 2019. The National Hydrocarbons Commission (CNH) has approved Pemex's plans to extract 60 mbl of oil and around 39 bcf (1.1 bcm) of gas from the Xanab field.
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Earlier:
2020, January, 24, 13:20:00
U.S. GAS EXPORTS UP TWICE
The U.S. Energy Information Administration (EIA) forecasts that U.S. natural gas exports will exceed natural gas imports by an average 7.3 billion cubic feet per day (Bcf/d) in 2020 (2.0 Bcf/d higher than in 2019) and 8.9 Bcf/d in 2021. Growth in U.S. net exports is led primarily by increases in liquefied natural gas (LNG) exports and pipeline exports to Mexico. Net natural gas exports more than doubled in 2019, compared with 2018, and EIA expects that they will almost double again by 2021 from 2019 levels.
