Page 7 - LatAmOil Week 34 2022

LatAmOil MEXICO LatAmOil

Cross-border pipelines carried nearly 40 mcm per day of gas from West Texas to Mexico in 5M-2022 (Image: EIA)

At the same time, the price of gas from its north- during the first seven months of 2022 than in the
ern neighbou r has remained relatively low. As a same period a year earlier. This rise was largely
result, the US share of Mexico’s total gas supply driven by higher production at the Quesqui and
has surged from 61% in 2019 to 72% in 2022. Ixachi fields, which regularly produce a higher
(This figure declined slightly to 69% during proportion of dry natural gas.
the first seven months of the current year, with Output also went up due to improvements in
research company Wood Mackenzie attribut- Mexican drilling rigs’ operating efficiency, the
ing this decline to a rise in US natural gas spot EIA report said.
prices.) Mexico also cut LNG imports significantly
Even as imports of US gas continue to rise, during the January-May period. LNG accounted
though, Mexico is working to ramp up domestic for less than 1% of the country’s total gas supply
production in an effort to meet rising demand. in the first five months of the year, down from
Mexico’s domestic gas yields were 15% higher 7% of total supply in 2021. ™

VENEZUEL A
Venezuelan petcoke sales to Indian cement

manufacturers reported to be on the rise

INDIAN cement manufacturers have been
importing significantly more Venezuelan
petroleum coke in recent months, as they seek
to avoid US sanctions penalties for sourcing fuel
from Russia.
Citing trade sources, Refinitiv ship tracking
data and Venezuelan shipping schedules, Reu-
ters said last week that Indian cement companies
had imported 160,000 tonnes of petcoke from
Venezuela between April and July.
It also reported that another 50,000 tonnes
of the material was expected to arrive at the
port of Mangalore on India’s southwest coast in
the coming days, with an additional shipment
of 30,000 tonnes due to be transported later in
August. Petcoke can serve as an affordable alternative to coal (Photo: Satchidanand)
Traditionally, the US and Saudi Arabia have
been India’s main petcoke suppliers. However, Ramco Cements Ltd and Orient Cement Ltd –
the surge in coal prices that has followed the to turn to other sources. They have settled on
Russian invasion of Ukraine has led a number of Venezuela because that country is offering com-
Indian cement makers – including JSW Cement, petitive prices, Reuters said.

Week 34 24•August•2022 www. NEWSBASE .com P7