Avant Energy is planning to build a logistics system that will supply refined products to Mexico’s Bajio region via rail from the Port of Altamira in the northeastern state of Tamaulipas, the company said Wednesday.
The network will be known as Supera and it will be built along with strategic partners Savage Services and Kansas City Southern (KCS), Avant said in a statement.
Avant was not immediately available for comment. The company already has all the port facilities and regulatory permits required for construction.
The system will be anchored by a 1.2-million-barrel marine import terminal at the port of Altamira, which will be able to unload Panamax vessels.
Source: Avant plans logistics system to import refined products into Mexico – Oil | Platts News Article & Story
Mexico’s 2013 energy reforms are based on bringing in more competition for the two state-owned monopolies that had become too stagnant, Pemex (oil and gas) and CFE (electricity). One of the key areas with huge upside for foreign firms is the very expensive process of natural gas storage, which is critical for Mexico as it moves to replace overused fuel oil and reduce GHG emissions to meet climate change goals.
Despite rapidly declining production, Mexico is one of the most natural gas dependent nations on Earth. Gas now supplies 45 percent of all energy and 60 percent of electricity. Mexico has been forced to increasingly depend on cheaper piped imports from the U.S., which at 4.5 Bcf/d now account for about 55 percent of Mexico’s total gas usage. Much more gas will be required. Per capita, Mexico’s 130 million citizens consume just a third of the electricity that other OECD nations do. Additionally, there is a manufacturing boom in Mexico, namely in the automotive industry that will use increasing amounts of natural gas.
Source: Mexico’s Natural Gas Dilemma | OilPrice.com
India’s government has announced that it plans to build 11 LNG import terminals over the next seven years as part of the nation’s plans to have natural gas contribute 15 percent of its energy mix by 2020.
India already has four LNG import terminals (Petronet’s Dahej and Kochi LNG terminals, Shell’s Hazira plant and the Dabhol terminal operated by Ratnagiri Gas and Power) and imports around 20 million tons of LNG a year, about 6.5 percent of its energy needs.
A Reuters news report states that Narendra Taneja, spokesman for the ruling Bharatiya Janata Party, said the plans would increase India’s LNG import capacity to more than 70 million tons per year. India would eventually require even more than 15 terminals to meet its demand, Taneja said, speaking at an industry conference in Bali, Indonesia.
India plans to electrify millions of households that currently use wood for fuel. It also plans to reduce reliance on coal and use the LNG to provide power for electric vehicles. India anticipates that all new cars sold will be electric by 2030. Taneja said the nation is looking to provide LNG for bunkering, including setting up a facility at Kochi port.
Source: India Wants Eleven More LNG Import Terminals
A coalition of six energy company CEOs — including four from Houston — issued a public letter asking President Donald Trump for federal funds for a project to deepen and widen the ship channel at Port Corpus Christi.The South Texas waterway received congressional approval to deepen its ship channel from 45 feet deep and 400 feet wide to 54 feet deep and 520 feet wide, but no federal funding for the $326 million project.In a Jan. 29 letter, Port Corpus Christi CEO Sean Strawbridge asked Trump to include funding for the Port of Corpus Christi Ship Channel Improvement Project in his fiscal year 2019 budget.”Once completed, this economically and strategically vital infrastructure project will undoubtedly position the United States as the most energy dominant player in the world,” Strawbridge wrote.Six energy company CEOs with facilities at Port Corpus Christi joined Strawbridge by sending a letter of their own, specifically asking Trump to include $60 million in his fiscal year 2019 presidential budget for the project.
Source: Energy CEOs ask President Trump to fund Port of Corpus Christi Ship Channel Improvement Project – Houston Business Journal
DCT Industrial had a busy 2017, despite the oil downturn.The real estate investment trust broke ground on three new Houston-area facilities totalling 474,000 square feet, and it acquired 48 acres in the Port of Houston.
The Denver-based company is one of the largest industrial owners and developers in the Bayou City, managing 5 million square feet of industrial real estate locally.Justin Bennett, the senior vice president overseeing DCT’s Houston operations, recently visited with the Chronicle about his outlook for 2018.
Q: How’s business? A: Business is doing very well. A big boon to the industry has been the expansion of plastics.
Source: Q&A: Plastics boom keeps Houston humming – Houston Chronicle
Commodities fund Jamison Capital to shut – source
NEW YORK/LONDON (Reuters) – Jamison Capital Partners LP, a New York-based macro commodity hedge fund run by former Morgan Stanley (NYSE:) trader Stephen Jamison, will be shutting its nearly $1.5 billion fund and convert to a family office, a source familiar with the matter said on Thursday.
The closure of Jamison, one of the largest commodity-focused hedge funds, comes after several other big names have closed shop in recent months. They include hedge fund manager Andy Hall, who closed his Astenbeck Capital Management last summer, and Texas tycoon T. Boone Pickens, who said this month that he was closing his fund, in part due to declining health.
Source: Exclusive: Commodities fund Jamison Capital to shut – source By Reuters
BEIJING (Reuters) — China’s imports of liquefied natural gas (LNG) hit a monthly record of 5.03 million tonnes in December, customs data showed, as purchases spiked to cover a surge in demand under Beijing’s push to replace coal with gas for households and factories.
Source: China’s drive to replace coal with gas pushes LNG imports to record high – The Japan News
Mexico is trying to lure as much oil investment as possible before the president who overhauled the country’s energy industry leaves.
By the end of the summer, the country that until recently had a state monopoly on crude will have offered more than 100 permits to oil majors like Exxon Mobil Corp.
in three auctions this year. The last bidding round, announced on Wednesday, will cover an area bigger than Delaware.
The pace of sales is unprecedented as the country prepares to say goodbye to the presidency of Enrique Pena Nieto, who oversaw a complete makeover of the country’s energy laws to lure foreign investment into everything from oil fields to pipelines to refineries.
An election in July could alter the course of the enormous transformation as Mexicans choose who will succeed Pena Nieto in December, with a candidate that has pledged to review the energy reforms leading the polls.
For now, oil giants including Exxon, BP Plc and Chevron Corp. are set to invest tens of billions of dollars in the country after winning exploration and production licenses in previous auctions. And they are lining up
to bid for more.
“The rounds transcend the electoral cycles,” Energy Minister Pedro Joaquin Coldwell said today at the presentation of the onshore auction plans in Mexico City. The oil auctions “exclusively comply with the energy policy that Mexico demands and will continue to demand in the future.”
Source: Mexico Holds Oil Bids Like There’s No Tomorrow Before Election – Bloomberg
OPEC and its allies agree they need to prolong their output-cut deal as bloated inventories won’t shrink to normal levels by March, but they’ve yet to reach a consensus on how long to extend the pact, according to ministers from three of the top producers.Global stockpiles are declining and demand is increasing, but there’s still a significant inventory overhang in the market, Khalid Al-Falih, Saudi Arabia’s oil minister, said at the Asian Ministerial Energy Roundtable in Bangkok on Thursday. Issam Almarzooq, his Kuwaiti counterpart, said producers are discussing and finalizing a decision on the extension of output curbs by the Organization of Petroleum Exporting Countries and partners such as Russia.
Source: Top OPEC Ministers Back Longer Cuts But Duration Undecided – Bloomberg