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PEMEX Mexican Oil Thread

General discussions of the systemic, societal and civilisational effects of depletion.

Re: Mexico: Pemex and Cantarell News And Discussion Thread

Unread postby UncoveringTruths » Wed 16 Apr 2008, 13:00:09

The leftist militant group Democratic Revolutionary Tendency-People’s Army (TDR-EP) released a video message last week opposing the privatization of Mexico’s state-run oil company Petroleos Mexicanos (Pemex), an idea currently being debated in Mexico City. TDR-EP previously claimed joint responsibility for a series of small bombings in Mexico City in November 2006, though the group’s operational role in the incident is considered to be small to nonexistent. However, the statement echoes a recent message by the Popular Revolutionary Army (EPR), which carried out several successful attacks against Pemex oil pipelines in 2007.

While President Felipe Calderon’s proposed energy reform plan has stirred up heated political debate, it also has the potential to spark a new round of pipeline attacks. Pemex increased its security at many of its facilities in 2007, but the EPR attacks against remote pipelines demonstrated that it is impossible to protect all of the company’s infrastructure. Aside from an unclaimed bank bombing in Mexico City on March 30, EPR has been noticeably — and inexplicably — inactive since the last round of Pemex attacks Sept. 10, suggesting that the group has lost members or resources, affecting its capabilities. However, the intensified debate over energy reform might be all that is needed to begin planning the next attack.


Mexico Security Memo: April 14, 2008 Subscription required at Stratfor
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Re: Mexico: Pemex and Cantarell News And Discussion Thread

Unread postby frankthetank » Fri 18 Apr 2008, 01:21:36

Newsweek-

On the back of Cantarell's decline, total output from Pemex is sliding; some even worry that Mexico could become a net importer of oil in the next decade or two. They're probably wrong, but even the idea makes people nervous.


The odds are that Calderon will make some reforms but won't transform Pemex. And that outcome, multiplied through state-owned oil companies around the world, suggests that oil output will increase only sluggishly. With demand still strong, oil prices are set to stay high for some time.


Not any mention on how much oil Mexico exports to the US (and how we will make they up). Not much mention of what the Mexicans will do with a huge loss of income.

http://www.newsweek.com/id/132601/page/1
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Re: Mexico: Pemex and Cantarell News And Discussion Thread

Unread postby Tanada » Fri 18 Apr 2008, 08:19:47

frankthetank wrote:Newsweek-

On the back of Cantarell's decline, total output from Pemex is sliding; some even worry that Mexico could become a net importer of oil in the next decade or two. They're probably wrong, but even the idea makes people nervous.


Not any mention on how much oil Mexico exports to the US (and how we will make they up). Not much mention of what the Mexicans will do with a huge loss of income.


When was the last time Newsweek was right on any energy issue? The whole Oil Glut series they did back in the 90's always comes to mind when they start acting as if they know what they are talking about.

Given the depletion rates from Cantarell unless the Mexican government corporation Pemex finds a field just as large darn quick they are past country peak and on the road to rapid decline.

Could become a net importer in the next decade or two...


What drug are they on over at Newsweek?
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Re: Mexico: Pemex and Cantarell News And Discussion Thread

Unread postby newman1979 » Fri 18 Apr 2008, 09:19:24

newman1979 wrote:Mexican crude exports to the US fell to 1.216 m/b/d if all the "America's" crude oil went to the US. Exports to Europe increased to 218,000 b/d. Mexican domestic crude consumption edged up on a yoy basis. Just a couple of years ago exports to the US reached 1.850 m/b/d.
What is the data saying? I think that rising Mexican demand, coupled with continued falling production, means that we can expect a decrease in crude exports to the US if exports to Europe continue at present rates.
We must also consider that Mexico imports around 400,000 b/d of refined gasoline products from the US. This means that we are only 800,000 b/d from a net zero of imports from Mexico. The decline rate from Pemex's data would be a 200,000 b/d annual decline which would make 2012 as the date of net zero imports from Mexico, rather than 2017 as Pemex postulates.

Posted February 22, 2008. Recent data only confirms the conclusions.
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Re: Mexico: Pemex and Cantarell News And Discussion Thread

Unread postby frankthetank » Fri 18 Apr 2008, 11:28:30

Tanada-

The way things are going, a lot more of us will need these drugs! I never read their oil glut series. I should go check them out at the library for a good laugh.
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Re: Mexico: Pemex and Cantarell News And Discussion Thread

Unread postby Dreamtwister » Fri 18 Apr 2008, 11:38:04

Tanada wrote:
frankthetank wrote:Newsweek-

Could become a net importer in the next decade or two...


What drug are they on over at Newsweek?


I don't know, but they must be some pretty strong ones. My impression was that they would become an importer on or about the end of this decade.
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Re: Mexico: Pemex and Cantarell News And Discussion Thread

Unread postby AirlinePilot » Fri 18 Apr 2008, 11:44:26

Denial is a very powerful drug.
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Re: Mexico: Pemex and Cantarell News And Discussion Thread

Unread postby Ferretlover » Mon 21 Apr 2008, 09:03:13

Calderon Offers Fix for Mexican Oil
The Associated Press Wed, Apr 9, 2008
line on a map of the Gulf of Mexico clearly divides U.S. and Mexican claims to potentially vast pools of oil deep below the ocean floor, and multinational companies are busily extracting crude north of this maritime border.
South of the line, Mexico's state-run oil company has hardly begun exploring _ a problem President Felipe Calderon hopes to solve with the reform initiative he finally unveiled on Tuesday.
Immediate reaction was mixed at best on Wednesday. Calderon's leftist opponents denounced it as "privatization" that threatens Mexico's sovereignty, while some oil analysts said it doesn't begin to go far enough to boost sagging production. …
Vast pools?
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Re: Mexico: Pemex and Cantarell News And Discussion Thread

Unread postby newman1979 » Mon 21 Apr 2008, 14:09:43

Pemex released it's March numbers . March 08 crude oil production was 2,847 m/b/d, down from 3,182 m/b/d in March 07 or 335,000 b/d. Sequentially March production was around 90,000 b/d below February 08. Crude oil exports to the US declined around 250, 000 b/d from March 07 although exports to the US were up around 90,000 b/d from February 08.
Last edited by newman1979 on Mon 21 Apr 2008, 17:39:36, edited 1 time in total.
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Re: Mexico: Pemex and Cantarell News And Discussion Thread

Unread postby SteinarN » Mon 21 Apr 2008, 14:54:01

Link to the Pemex monthly report for March.

http://www.pemex.com/files/dcpe/petro/eprohidro_ing.pdf
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Re: Mexico: Pemex and Cantarell News And Discussion Thread

Unread postby Dreamtwister » Mon 21 Apr 2008, 15:45:24

newman1979 wrote:Pemex released it's March numbers . March 08 crude oil production was 2,847 m/b/d, down from 3,182 m/b/d in March 07 or 335,000 b/d.


That's 11% YOY. At that rate, it will be producing less than 1 million bpd by 2017. More importantly, assuming a modest 2% growth in demand, Mexico will become a net importer by exactly 2010. Even a 0% growth in demand only moves the date to 2011.*

That's not just scary, that's downright apocalyptic.

*Based on CIA factbook figure of 2.087Mb/d demand in 2005.
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Re: Mexico: Pemex and Cantarell News And Discussion Thread

Unread postby Homesteader » Wed 30 Apr 2008, 20:26:06

Mexico to reduce oil exports to US in 2008

snip:

" LOS ANGELES, Apr. 29 -- Mexico will reduce its crude oil exports to the US by an average of 184,000 b/d throughout 2008, a situation that could continue for 2 years longer, reported a Mexican media outlet.

Citing PMI Comercio Internacional, the Petroleos Mexicanos affiliate in charge of marketing, El Universal newspaper said a reduction in US-bound exports for 2008—and possibly until 2010—was due to Mexico's reduced oil output. "

Link: http://tinyurl.com/56pxjp
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Re: Mexico: Pemex and Cantarell News And Discussion Thread

Unread postby Tanada » Wed 30 Apr 2008, 22:13:36

ROFL that implies it will go back up after 2010!
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Re: Mexico: Pemex and Cantarell News And Discussion Thread

Unread postby Homesteader » Wed 30 Apr 2008, 22:27:17

Tanada wrote:ROFL that implies it will go back up after 2010!


Yeah, makes it all seem ok doesn't it.
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Re: Mexico: Pemex and Cantarell News And Discussion Thread

Unread postby Mechler » Wed 30 Apr 2008, 23:09:37

No, it does makes sense - Mexico will reduce exports to the US until 2010, at which point the amount exported will be zero. Further reductions will then be halted... :lol:
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Re: Mexico: Pemex and Cantarell News And Discussion Thread

Unread postby Ferretlover » Wed 30 Apr 2008, 23:17:56

"a situation that could continue for 2 years longer" ... until they quit sending any at all! :lol:
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Re: Mexico: Pemex and Cantarell News And Discussion Thread

Unread postby SteinarN » Fri 23 May 2008, 16:59:57

Monthly report for april is out.

Crude is down 415,000 bld, 13%, in april this year compared to april last year. Crude+ngl is down 430,000 bld.

Pemex monthly april
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Re: Mexico: Pemex and Cantarell News And Discussion Thread

Unread postby newman1979 » Fri 23 May 2008, 20:05:29

The April report also shows exports to the US down to under 1.2 m/b/d. The rapid fall of over 450,000 b/d from April 06 continues the trend of lower crude production, increased domestic oil consumption and decreasing exports to the US. The April numbers confirm once again that Mexico is on target to be a net zero exporter to the US in four years.
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Re: Mexico: Pemex and Cantarell News And Discussion Thread

Unread postby DantesPeak » Fri 23 May 2008, 20:16:29

newman1979 wrote:The April report also shows exports to the US down to under 1.2 m/b/d. The rapid fall of over 450,000 b/d from April 06 continues the trend of lower crude production, increased domestic oil consumption and decreasing exports to the US. The April numbers confirm once again that Mexico is on target to be a net zero exporter to the US in four years.


These EIA figures were last updated for the month of February, but it can already been seen that imports from Mexico are already falling at a very rapid pace:

http://tonto.eia.doe.gov/dnav/pet/hist/mttimusmx1m.htm
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Re: Mexico: Pemex and Cantarell News And Discussion Thread

Unread postby shortonoil » Fri 23 May 2008, 20:28:36

Rigzone: "The largest prize in Mexico's oil patch, the offshore Cantarell oil field, has seen output slide by nearly half to 1.2 million barrels a day at present. Many observers doubt Pemex can reverse waning output without selling exploration blocks to outside firms - a prospect currently illegal - but oil field service companies will see increased demand for their equipment and know-how regardless of the country's overall production."


Then, there are also a number of analysts that feel that Mexico can not reverse its decline no matter what it does. If it did, it would be the first oil producer in history to do so!

I do find it interesting that even Rigzone will still not come out and say “Mexico has Peaked”.
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