Page 6 - LatAmOil Week 04 2023

LatAmOil MEXICO LatAmOil

CNH data show Mexico’s oil output

up and gas output down in 2022

MEXICO’S National Hydrocarbons Commis- Mexico extracted 4.16 bcf (117.8 mcm) per day
sion (CNH) has published figures showing that of gas, up from 3.95 bcf (111.9 mcm) per day
the country’s oil production sank in 2022, while in the same month of 2021. Pemex accounted
natural gas output rose. for 3.93 bcf (111.3 mcm), or 94.47% of total
According to the commission, Mexico production, in the last month of the year, com-
extracted a total of 1.62mn barrels per day of pared with 3.74 bcf (105.9 mcm), or 94.68% of
crude oil last year, down by 2.41% on the 2021 the total, in December 2021, while private-sec-
average of 1.66mn bpd. CNH data also show tor firms contributed 233.1 mmcf (6.6 mcm), or
that Pemex, the national oil company (NOC), 5.53% of the total, in December 2022, compared
extracted 1.52mn bpd of oil in 2022, equivalent with 204.8 mmcf (5.8 mcm) per day, or 5.32% of
to 93.83% of the total, compared with 1.6mn the total, in the previous year.
bpd, or 96.39% of the total, the previous year. Pemex expects Mexico’s gas production to
The commission also reported that Mexico average 4.67 bcf (132.2 mcm) per day this year,
had produced some 1.84mn bpd of liquids, according to a report from Natural Gas Intelli-
including gas condensate as well as crude oil, in gence. This would represent a rise of 12.42% on
2022. This marked a 3.37% increase on the 2021 the 2022 figure. ™
figure of 1.78mn bpd, it said.
With respect to gas, CNH said that Mex-
ico had extracted a total of 4.09bn cubic feet
(115.8mn cubic metres) per day last year, up by
6.23% on the 2021 average of 3.85 bcf (109 mcm)
per day. Pemex supplied 3.85 bcf (109 mcm) per
day of gas, or 94.13% of total production in 2022,
compared with 3.65 bcf (103.4 mcm) per day, or
94.81% of total production in the previous year.
Private-sector producers thus accounted for the
remaining 234.7mn cubic feet (6.65 mcm) per
day, or 5.87% of total output last year, compared
with 204.8 mmcf (5.8 mcm) per day, or 5.19% of
total production in 2021.
In December 2022 alone, CNH continued, State-owned Pemex accounted for more than 90% of total output (Photo: Pemex)

TRINIDAD & TOBAGO
Trinidad and Tobago may replace licensing

rounds with direct contract talks, PM says

THE government of Trinidad and Tobago is One such factor, the prime minister said, is
considering the possibility of replacing licensing the lacklustre response to recent shallow- and
rounds with direct negotiations on oil and gas deepwater auctions. (The bidding round featur-
exploration deals, Prime Minister Keith Rowley ing these assets has drawn less interest than the
said on January 23. government had hoped.)
Speaking during an industry conference in Direct auctions might be a better tactic for
Port of Spain, Rowley noted that competitive opening up more assets to investment and
bidding rounds had served the country well in boosting production, and other countries such
the past. He acknowledged, however, that mul- as Indonesia have already begun engaging in
tiple factors had made this option less attractive such talks with Trinidad and Tobago on a gov-
over the last year. ernment-to-government basis, he stated.

P6 www. NEWSBASE .com Week 04 25•January•2023