IPD EnergyNet
Our thought provoking and timely analysis of the energy industry offers IPD clients a unique local perspective that enables them to better understand energy dynamics and create opportunity.
Mexico
National (Real) Production Numbers
CNH official Fausto Alvarez’ revelation on social media that PEMEX is combining its crude production figures with private sector ones has spurred rising doubts about the accuracy of PEMEX production data. Since January, AMLO has claimed to have achieved the impossible - stabilizing and actually increasing oil production. However, the online and increasing notoriety of what many have dubbed AMLO’s “National Institute of Other Data” indicates otherwise.… [READ MORE]
Venezuela
Venezuela's Troubled Refining Infrastructure
Venezuela’s refining system is as distressed as Venezuela itself. The country's main refineries area only barely operational, largely because parts have been cannibalized from other, smaller refineries. The system’s death rattle is audible. … [READ MORE]
Venezuela
Opposition Players Close Ranks on OHL Reform
The opposition has found internal common ground: Almost all factions agree, Venezuela’s oil industry needs a plan for fast incremental crude output, and an Organic Hydrocarbons Law (OHL) reform to support that plan. The opposition will not seek to draft a new OHL any time soon—at least, not until national consensus is guaranteed. Even some PSUV players have quietly expressed support.… [READ MORE]
Mexico
IMO Impact on Maya Crude Likely to Be Significant
The latest IMO regulations, which will profoundly impact the shipping industry and the fuel it uses, take effect on January 1st, 2020. Mexico’s Maya crude is particularly vulnerable, being both heavy and high in sulphur content -- precisely what the IMO regulation will dramatically reduce. Although unclear how the refining and shipping industries will adapt, heavy crude with high sulphur content will clearly be impacted. In Mexico, neither the crude price impact nor its outdated and inefficient refineries have been publicly discussed.… [READ MORE]
