Page 11 - LatAmOil Week 03 2021

LatAmOil MEXICO LatAmOil

Mexican president suggests review

of independent regulators’ roles

MEXICAN President Andres Manuel Lopez As such, their elimination might hinder efforts
Obrador has suggested that the government to enforce the provisions within the 2013-2014
review the roles of the independent agencies set energy reforms that aim to level the playing field
up to oversee the fuel and energy sector, on the between Pemex and its competitors, including
grounds that some of them are redundant. privately owned Mexican firms and interna-
Speaking during one of his daily press con- tional oil companies (IOCs).
ferences last week, the president said he believed By the same token, though, Lopez Obrador
the independent agencies ought to be folded would surely be pleased to see Pemex gain an
into other bodies. advantage over other operators. The president
Doing so would help the government reduce has said before that his government wants to see
its expenditures and avoid duplication of efforts, the NOC and other state-controlled companies
he declared. take a leading role in the economy.
“So why is there Pemex, the board of Pemex, Under current Mexican law, the president
if there are another three independent bodies is responsible for appointing the heads of all
related to Pemex?” he remarked, referencing the 10 agencies involved in overseeing the fuel and
national oil company (NOC). “Why is there an energy sector, including CRE and CNH. He
energy ministry when there are an additional 10 also appoints the CEO of Pemex and the cabi-
independent bodies?” net minister who heads the Energy Secretariat
Lopez Obrador blamed his predecessor Enri- (SENER). ™
que Peña Nieto for the proliferation of agencies,
arguing that the former president’s energy
reform programme had persisted in creating
new government bodies despite the “unbelieva-
ble” amount of duplication that had resulted. He
did not indicate whether he wanted to see any
specific agencies eliminated, but he did stress
that he wanted to put an end to the “golden age
of bureaucracy” in Mexico’s energy sector.
In the past, he has spoken critically about
the National Hydrocarbons Commission
(CNH) and the Energy Regulatory Commis-
sion (CRE). Both agencies have been tasked
with the oversight of specific market activities
within the energy industry and are obligated to
make decisions on a technical, impartial basis. Apache has drilled four wells at Block 58 (Image: Apache)

TRINIDAD AND TOBAGO
BHP confirms failure of Broadside-1 well

AUSTRALIA’S BHP has revealed that it did not encounter any crude oil or natural gas. Accord-
find any hydrocarbons in Broadside-1, a well ingly, it said, Broadside-1 was plugged and aban-
drilled last year at Block 3 offshore Trinidad and doned on November 8, 2020.
Tobago. BHP’s next step will be to evaluate the data
In a report on its second-half performance, collected from the well. The results of this eval-
BHP said it had used the Deepwater Invictus, uation will help the Australian firm formulate
a rig owned by the Swiss drilling contractor its strategy for exploration and development of
Transocean, to sink the well to a total depth of Block 3 and the other offshore sites known col-
7,064 metres lectively as the Southern Licences.
It stated that the shaft had reached the main To date, BHP has drilled four exploration
reservoir on October 22, 2020, but did not wells in the Southern Licences.

Week 03 21•January•2021 www. NEWSBASE .com P11