More Company Climate Votes Ahead, As Trump May Loosen Energy Rules

Activist shareholders plan a record number of resolutions focused on climate change at U.S. company annual meetings in 2017, even as President-elect Donald Trump looks set to loosen environmental regulations.

Based on filings so far, U.S. companies are on track to face roughly 200 resolutions on climate matters at their shareholder meetings next year, according to Rob Berridge, who follows the subject for Ceres, a sustainability advocacy group.

There were 174 such resolutions this year, Berridge said, compared with 167 in 2015 and 148 in 2014. Many have been directed at big oil and gas companies, though other sectors have also been targeted, including technology and retail.

Activist shareholders broadly aim to curb companies’ carbon emissions and make energy usage more efficient, or at the very least, to draw the attention of companies and investors to climate change as an urgent problem.

They have had some limited success. Investors at Exxon Mobil Corp the world’s largest publicly traded oil producer, passed a measure this year that could lead to an environmental activist joining its board. «Our position is that the risk of climate change is clear and warrants action,» said Exxon spokesman Alan Jeffers.

The rising number of shareholder votes reflects a growing concern among big investors about the environment, encouraged by steps by some boards to embrace reforms.

Deadlines are fast approaching to get resolutions on the ballot for shareholder meetings to be held in the spring.

The election victory of Trump, who is set to take over as U.S. president on Jan. 20, only seems to have added impetus.

On the campaign trail, Trump dismissed human-caused climate change as a «hoax» and pledged to dismantle the Environmental Protection Agency. He also threatened to withdraw the United States from the landmark 2015 Paris Agreement to combat climate change, although he appeared to step back from that position on Tuesday.

He vowed instead to revive the U.S. coal industry, encourage oil drilling and to scale back regulation of the energy sector.

«Despite what the administration may or may not do, I really believe that corporations understand the risks posed by climate change,» said Danielle Fugere, president of As You Sow, a California nonprofit campaign group. It sponsored 18 climate-related shareholder resolutions in 2016 and expects to file a bigger number next year.

One resolution for 2017 calls on Anadarko Petroleum Corp to report on how it would address the risk of so-called stranded assets, such as high-cost deepwater project investments, that might be caused by a drop in demand for oil and gas. The idea won support from 42 percent of shares voted at the company’s 2016 meeting, up from 29 percent in 2015.

Anadarko’s board last year called the idea «unnecessary and unproductive.» Spokesman John Christiansen said it is reviewing the proposal.

To be sure, among S&P 500 companies, investor support for climate resolutions has been relatively weak, holding steady around 22 percent since 2014, according to research firm Fund Votes.

But activists often won more backing for ideas such as urging companies to report on their strategy for dealing with climate change, according to the Sustainable Investments Institute, a research firm specializing in shareholder votes, supported by universities, pension funds and other institutional investors.

Anne Simpson, director of sustainability for the California Public Employees’ Retirement System (Calpers), which manages about $300 billion, said it plans to file or back resolutions at U.S. oil and gas companies for 2017, though she declined to discuss specifics.

Last year the boards of mining companies including Rio Tinto Plc and Glencore Plc endorsed resolutions Calpers submitted calling for reports on climate risk, and the measures passed by wide margins.

More companies will likely embrace shareholder proposals to head off disruption caused by climate change, Simpson said.

«Economics is driving this, not politics,» she said.

Copyright: Rigzone

Petróleo aporta 18% a los ingresos totales

Para el cierre del tercer trimestre del año los ingresos petroleros registraron un total de 617,410.7 millones de pesos, un crecimiento real de 0.9%, respecto a lo registrado en el mismo periodo del 2015. 

Este monto representó 18% de los ingresos presupuestarios totales del sector público, la participación más baja desde 1994, considerando sólo los primeros nueve meses de cada año, de acuerdo con datos de la Secretaría de Hacienda y Crédito Público (SHCP). 

En el tercer trimestre del 2008, en plena crisis financiera, los ingresos petroleros aportaban 45% de los ingresos totales, a partir de finales del 2014, empezaron a reducir su aportación.

 Lo anterior se debió a que los precios del petróleo a nivel internacional comenzaron a reducirse de manera significativa, al igual que la producción de Petróleos Mexicanos (Pemex), lo cual se vio reflejado de manera directa en los ingresos que aportan a las finanzas públicas del país, coincidieron expertos.

 Héctor Villarreal, director general del Centro de Investigación Económica Presupuestaria (CIEP), comentó que si bien se han despetrolizado las finanzas públicas del país, el verdadero problema es que los ingresos que se obtienen por el cobro de impuestos no son suficientes para solventar al 100% el gasto público. 

Refirió que México sigue siendo de los países con baja recaudación tributaria como porcentaje del Producto Interno Bruto (PIB); el promedio de la recaudación tributaria de los países que conforman la Organización para la Cooperación y el Desarrollo Económicos (OCDE) fue de 34.4% del PIB en el 2014 (últimos datos), en México se ubicó por debajo de 20 por ciento. Para el cierre del 2017 se espera que representen 15% del PIB.

 “Aunque los ingresos tributarios sigan creciendo, será a un nivel muy bajo porque el efecto de las reformas se va a agotar. Estos ingresos sólo van a crecer si la economía avanza, pero seguimos viendo aumentos pequeños. Además, el gasto cada vez es mayor y vive una gran presión por el de pensiones, participaciones y costo financiero de la deuda”. 

Agregó que difícilmente los ingresos petroleros puedan recuperarse en el corto o mediano plazos, una vez que las rondas 1,2 y 3 comiencen a dar resultados. 

“En el corto plazo, la posibilidad de que aumenten los ingreso petroleros es muy baja, porque el costo es alto y es difícil que la producción aumente; además de que el precio ha estado topado (…) el efecto Trump es indirecto, afecta más la baja producción y el precio”. 

En el 2012 el precio anual promedio de la mezcla mexicana se ubicaba en 101.96 dólares el barril, para el cierre del 2015, se ubicó en 43.28 dólares el barril de petróleo, esto es una caída de 58%, según datos del Servicio Geológico Mexicano. 

El viernes pasado el precio de la mezcla mexicana se ubicó en 37.40 dólares el barril. 

Aportan menos al gasto 

Al cierre del tercer trimestre del año, cuando el gasto fue por 3.7 billones de pesos, los ingresos petroleros apenas aportaron 16% con un total de 617,410.7 millones de pesos. 

Esta aportación ha sido la más baja desde 1990, año desde donde se tiene registro, y considerando sólo los primeros nueve meses de cada año. En el 2008, los ingresos petroleros aportaron hasta 48% del gasto neto del sector público. 

“Si bien es bueno que las finanzas públicas del país estén teniendo menor dependencia de los ingresos petroleros, el principal factor debería ser por el crecimiento de otros ingresos como los tributarios y no por la presión que está ejerciendo la caída en el precio del petróleo”, dijo Luis Miguel Labardini, socio de Marcos y Asociados. 

De acuerdo con la Ley de Ingresos de la Federación 2017, los ingresos petroleros serán por 739,369 millones de pesos, de los cuales, 400,415 millones de pesos provendrán de Pemex y los 338,954 millones, de la Comisión Federal de Electricidad. 

Es decir, de los 4.8 billones de pesos que pretende gastar el sector público, las empresas productivas del Estado aportarán 15 por ciento. Por el cobro de impuestos se espera recaudar un total de 2.7 billones de pesos.

Copyright: El Economista 

Oil Bets Are Biggest in 9 Years Amid OPEC, Trump Volatility

Money managers, producers and consumers made the biggest bets on West Texas Intermediate crude prices in nine years, amid signals more volatility is coming.

Global markets were roiled after Donald Trump’s election as U.S. president and as OPEC continued negotiations on a deal to cap output. The U.S. dollar climbed to the highest since January. A measure of oil volatility surged last week to a seven-month high, a sign that traders were anticipating bigger price swings.

Wagers on higher and lower prices held by speculators and hedgers reached 1.47 million contracts in the week ended Nov. 15, the most since 2007, U.S. Commodity Futures Trading Commission data show. Trading volume of calls giving investors the right to purchase WTI futures rose to a record that day. The CBOE Crude Oil Volatility Index reached the highest since April. Brent oil shorts, bets that prices will fall, rose to the highest in more than two years.

“There’s tension in the market, with both producers and consumers worried about what OPEC does or won’t do on Nov. 30,” said Tim Evans, an energy analyst at Citi Futures Perspective in New York. “They want to be protected from surprising price moves.” 

OPEC Meeting

Investors are weighing the chances that the Organization of Petroleum Exporting Countries will complete a deal to cap output at its Nov. 30 meeting in Vienna. While Saudi Arabian Energy Minister Khalid Al-Falih told Al Arabiya television he’s optimistic a deal will be reached, only seven of 20 analysts surveyed by Bloomberg last week expect the group to set output targets for its members.

OPEC agreed in September to cut their collective output to 32.5 million to 33 million barrels a day and has been trying to persuade other suppliers, notably Russia, to join the cuts. OPEC Secretary General Mohammed Barkindo said he’s confident the group can reduce record oil inventories and bring forward the rebalancing of the market.

“The Saudis are working hard to reach a deal,” said John Kilduff, a partner at Again Capital LLC, a New York-based hedge fund that focuses on energy. “You don’t fight the Fed in the bond market and when it comes to oil you don’t fight the Saudis.”

The September agreement marked the end of OPEC’s two-year long experiment with pumping at will. Saudi Arabia led the group in the effort to grab market share and curb the development of more expensive reserves such as U.S. shale.

U.S. Production

While U.S. production has dropped from last year’s 44-year high, the decline is slowing. The Energy Information Administration this month raised its output forecast for 2017. Rigs targeting oil in the U.S. rose the most in 16 months last week, according to Baker Hughes Inc.

Producers and merchants increased short positions, or protection against lower WTI prices, to the highest level since March 2011. They added 66,613 bearish contracts over the past two weeks as prices retreated from last month’s peak at above $50 a barrel.

“The Saudis want higher prices but won’t sacrifice just to see a major competitor, U.S. shale, benefit,” said Sarah Emerson, managing director of ESAI Energy Inc., a consulting company in Wakefield, Massachusetts. “The Trump election changes things. In one day the U.S. shale business got better. The government will be more responsive to the industry.”

Money managers’ net-long position in WTI advanced for the first time since mid-October, climbing by 3,906 futures and options to 163,321. Shorts climbed 14 percent while longs rose 8.1 percent. WTI gained 1.8 percent to $45.81 a barrel in the report week. It rose 2.7 percent to $46.93 as of 8:48 a.m. on Monday.

Brent Bets

In the Brent market, money managers increased short positions by 11 percent to 157,016 during the week, the highest level since September 2014, according to data from ICE Futures Europe. The net-long position in the global benchmark slipped by 4.6 percent during the week to the lowest since January.

In fuel markets, net-bullish bets on gasoline decreased 35 percent to 25,796 contracts, as futures slipped 2.5 percent in the report week. Money managers were net-short 393 contracts of ultra low sulfur diesel, from net-long 7,791 the previous week. Futures advanced 0.2 percent.

“I suspect that when the OPEC meeting is over there will have been a lot more smoke than fire,” said Michael Lynch, president of Strategic Energy & Economic Research in Winchester, Massachusetts. “If they don’t come up with a convincing agreement, they’ll be forced to revisit the issue before long.”

 

Copyright: Bloomberg

Multan a Pemex con 2.1 mdp por no aprovechar gas

Durante la 64 sesión extraordinaria del Órgano de Gobierno de la Comisión Nacional de Hidrocarburos (CNH) se sancionó a Pemex Exploración y Producción con 2.1 millones de pesos por no cumplir con las metas de aprovechamiento de gas en Ku-Maloob-Zaap.

La comisión detectó que durante 2014 y 2015 la quema y venteo de gas en el activo incumplió las metas de aprovechamiento, las cuales eran de 39.6 millones de pies cúbicos en 2014 y se quemaron 133.5, mientras que en 2015 el limite máximo era de 105 y se quemaron 137.8 millones de pies cúbicos de gas.

Juan Carlos Zepeda Molina, comisionado presidente de la CNH, detalló que los 550 millones de pies cúbicos que Pemex quema cada día equivalen a 32% del gas natural que México importa.

Pemex justificó el incumplimiento a la reducción presupuestal de 100,000 millones de pesos “El cumplimiento a la meta establecida de 98% en el aprovechamiento de gas en aguas someras fue pospuesta, alcanzándose un índice de 96”, dijo la empresa  el pasado 11 de noviembre.

Además de la sanción económica impuesta  a la empresa se le obligó a  implementar inversiones por 2 mil 446 millones de dólares en distintas actividades por los próximos tres años, así como presentar un plan para subsanar la situación.

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Copyright: Oil and Gas Magazine

Mammoth Texas oil discovery biggest ever in USA

Geologists say a new survey shows an oilfield in west Texas dwarfs others found so far in the United States, according to the US Geological Survey.

The Midland Basin of the Wolfcamp Shale area in the Permian Basin is now estimated to have 20 billion barrels of oil and 1.6 billion barrels of natural gas, according to a new assessment by the USGS.

That makes it three times larger than the assessment of the oil in the mammoth Bakken formation in North Dakota.

The estimate would make the oilfield, which encompasses the cities of Lubbock and Midland — 118 miles apart — the largest «continuous oil» discovery in the United States, according to the USGS.

«This oil has been known there for a long time — our task is to estimate what we think the volume of recoverable oil is,» assessment team member Chris Schenk told CNN – affiliate KWES Wednesday.

The term «continuous oil» refers to unconventional formations like shale, in which the oil exists throughout the formation and not in discrete pools. The USGS estimates how much oil is considered to be undiscovered but technically recoverable.

«Even in areas that have produced billions of barrels of oil, there is still the potential to find billions more,» Walter Guidroz, coordinator for the USGS Energy Resources Program said in a statement. «Changes in technology and industry practices can have significant effects on what resources are technically recoverable, and that’s why we continue to perform resource assessments throughout the United States and the world.»

Oil has been produced in the Wolfcamp area since the 1980s by traditional vertical wells — but now companies are using horizontal drilling and hydraulic fracturing to tap the continuous oil reserve. More than 3,000 horizontal wells are currently operating, according to the USGS.

Morris Burns, a former president of the Permian Basin Petroleum Association, told KWES the low price of oil — currently around $46 a barrel — means the oil will sit underground for the foreseeable future.

«We are picking up a few rigs every now and then but we won’t see it really take off until we (get) that price in the $60 to $65 range,» Burns told the station.

«When we talk about that many millions of barrels of oil in the ground, that doesn’t mean we can recover it all. We recover in the neighborhood of 50 to 60 percent,» Burns said.

Last spring, CNN reported that «fracking» now accounted for more than half of all U.S. oil output. Back in 2000, there were just 23,000 fracking wells pumping about 102,000 barrels of oil a day. Last March there were 300,000 fracking wells, churning out 4.3 million barrels per day.

The fracking production, led by Permian Basin, Bakken formation and Eagle Ford, also in Texas, caused oil prices to tumble — making the $100 barrel ancient history — to as low as $25 a barrel early this year.

 

Copyright: CNN

Oil stays low ahead of Opec meet

Oil fell to its lowest in three months on Monday, as the prospect of another year of oversupply and weak prices overshadowed chances that Opec will reach a deal to cut output.

Donald Trump’s surprise win in last week’s US presidential election boosted the dollar and stocks but undermined oil. Crude has also fallen because of waning expectations that the world’s largest exporters will agree to reduce production this month.

Brent crude futures fell 50 cents on the day to $44.25 a barrel by 2:50pm GMT, while NYMEX crude futures dropped by 57 cents to $42.84 a barrel.

«In the same way that a strong Opec agreement was needed to continue the rally above $55, a lack of agreement will be needed to break below $40 and right now, we’re at $45,» Petromatrix strategist Olivier Jakob said.

Opec plans to cut or freeze output, but analysts doubt the group’s ability to reach an agreement at its meeting on 30 November.

Opec said on Friday its output hit a record 33.64 million barrels per day in October, and forecast an even larger global surplus in 2017 than the International Energy Agency (IEA) on Thursday.

Yet, Saudi Energy Minister Khalid al-Falih has said it was imperative for Opec to reach a consensus on activating a deal made in September in Algiers to cut production.

«Opec know what needs to be done but too few members will agree to take the production pain for the price gain, knowing also that the price gain incentivises non-Opec to produce more, lengthening the rebalancing process,» PVM Oil Associates analyst David Hufton said.

The dollar index hit an 11-month peak on Monday, driven by an aggressive sell-off in bonds that has pushed Treasury yields to their highest since January.

Ordinarily, a strong dollar would push oil lower, but the correlation between the two is at its most positive in two months, suggesting they are more likely to move in lockstep with one another than in opposite directions.

Data from the InterContinental Exchange on Monday showed investors delivered the largest weekly cut on record to their bets on a sustained rise in the price of oil.

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Copyright: Up Stream

Pemex lays out the map for the road ahead

Mexico’s state oil company Pemex has laid out the broad strokes of a new strategy that could dramatically expand its use of partnerships in the Mexican exploration and production sector over the next five years.

The plans open up the possibility of more than 160 new opportunities for private companies over the next two years.

Pemex has already announced plans for the farm-down this year of an interest in the deep-water Trion discovery, and said 2017 would also bring other farm-outs in the shallow-water area of Ayin-Batsil and the onshore areas of Ogarrio and Cardenas-Mora. The company’s latest 2016-2021 business plan also labels 2017 as its target date for partnerships in the extra-heavy oil field of Ayatsil-Tekel-Utsil and the tricky but promising region of Chicontepec, as well as seven more unspecified onshore areas in the northern and southern parts of the country.

The strategy also sets out ambitious plans for 2018, with six deals proposed for shallow waters in the northern part of the country, 64 onshore agreements in the north and south and 86 natural gas contracts in the Burgos and Veracruz areas.

“Pemex’s business plan is a good roadmap, but short and medium-term challenges remain,” political risk consultancy Eurasia Group wrote in a note. “Operational challenges will remain substantial and many of the projects are likely to face delays.”

Pemex only recently gained the ability to take on operating partners in its projects as part of reforms passed in 2014 to end its nearly 80-year monopoly.

The state-led company has touted its new ability as being crucial to helping make up for its declining production curve and bringing in new technology and best practices.

A small number of farm-outs were announced with the passage of implementing legislation in 2014, but details since then have been scant other than Trion. Industry executives have called for more opportunities.

When it comes to exploration rights, by law Pemex must sign contracts for stakes in its projects via an open public bid round run by Mexican oil regulators, not just by direct negotiations.

Pemex did not provide many details on the projects mentioned, merely offering a list of “business opportunities” as part of its roadmap forward.

The strategy was unveiled as Pemex comes under pressure to show progress and activity on areas assigned in the process known as Round Zero.

That process divvied up what fields the Mexican player could retain following reforms but, without activity, acreage reverts back to regulators.

“The plan is very ambitious but I think it’s rightly so,” said Francisco Monaldi, adjunct professor of political economy of oil at Rice University in Houston, suggesting executives aim to position Pemex to take full advantage of the abilities offered by the energy reform.

Chiefly, Pemex will need to find a “winning formula” that can incentivise new operators to come in, and the process for the deep-water Trion block may end up being a model for that going forward, according to Luis Miguel Labardini, partner at Marcos y Asociados in Mexico City.

Ongoing discussions surrounding that joint operating agreement, with lots of feedback from international oil companies, led to the jettisoning of provisions that could have limited the autonomy of new partners, such as the ability of Pemex to unilaterally remove the new operator despite holding a minority stake in the project.

Some of the areas mentioned, notably the Ayatsil-Tekel-Utsil extra-heavy oil field and the Chicontepec region, also have higher production costs that could make economics difficult if lower oil prices persist.

Experts also acknowledged future political risk. The term of energy reform proponent President Enrique Pena Nieto is up in 2018, and the administration at present stands in a weak position due to multiple corruption scandals and its inability to stem violence from drug cartels.

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Copyright: Up Stream

Oil Trades Near $44 as U.S. Election Sends Stocks, Dollar Higher

Oil traded near $44 a barrel in New York amid a broader market rally driven by speculation Hillary Clinton’s chances of winning the U.S. election increased after the FBI said her handling of her e-mails wasn’t a crime.

Futures rose as much as 2.1 percent in New York following the Federal Bureau of Investigation’s report. The S&P 500 Index was set for its biggest gains since June and the dollar rose against its peers for the first time in seven sessions. Russia, the world’s biggest energy producer, is “on board” with an OPEC agreement to limit crude oil production to help re-balance the market, according to OPEC Secretary General Mohammed Barkindo.

«The U.S. election is front and center in all the markets,» said Chris Kettenmann, chief energy strategist at Macro Risk Advisors LLC in New York. «There was talk over the weekend of Russia agreeing to limit production in cooperation with OPEC, but we need to see a resolution from the Nov. 8 vote before the focus shifts to Nov. 30.»

Oil retreated below $45 a barrel following the failure of the Organization of Petroleum Exporting Countries to agree on output quotas for member countries on Oct. 28, which must happen before a deal can be finalized. OPEC pumped at a record rate in October, according to data compiled by Bloomberg.

West Texas Intermediate for December delivery rose 32 cents, or 0.7 percent, to $44.39 a barrel at 11:26 a.m. on the New York Mercantile Exchange. The contract slid 59 cents to $44.07 on Friday, the lowest close since Sept. 20. Prices fell 9.5 percent last week, the most in almost 10 months.

Election Focus

Brent for January settlement rose 4 cents to $45.62 a barrel on the London-based ICE Futures Europe exchange. Prices declined 8.3 percent last week, the most since January. The global benchmark traded at an 68-cent premium to January WTI.

«The stock market is up on the increasing likelihood of a Hillary Clinton victory,» said Thomas Finlon, director of Energy Analytics Group LLC in Wellington, Florida. «This is also strengthening the dollar, which is weighing on commodities.»

The Bloomberg Dollar Spot Index, a gauge of the greenback against 10 major peers, rose as much as 0.5 percent. A stronger U.S. currency reduces the appeal of dollar-denominated raw materials as an investment.

A magnitude 5 earthquake struck near Cushing, Oklahoma, the nation’s largest crude-storage hub, prompting some pipeline operators to shut operations at the site as a precaution. Oklahoma’s oil and gas regulator reported that all pipelines under its jurisdiction were operating again after shutting down as a precaution because of the temblor, centered less than 2 miles west of Cushing.

Gasoline dropped to the lowest level in seven weeks after Colonial Pipeline Co. restarted the largest U.S. line for the fuel Sunday, six days after an explosion and fire in Alabama during planned work.

December gasoline futures fell 1.5 percent to $1.3579 a gallon after touching $1.3561, the lowest since Sept. 20. 

Copyright: Bloomberg

Presentan bases definitivas para licitantes de Trion

La Comisión Nacional de Hidrocarburos (CNH) publicó finalmente la versión definitiva de las bases de licitación, el contrato de licencia y el de operación conjunta con Petróleos Mexicanos (Pemex) en el campo Trion en aguas profundas, en que el operador tendrá la misma participación que la estatal, 40%, incluso en consorcio, además de que no deberá presentar una garantía corporativa en caso de incumplimiento para asociarse con la petrolera mexicana, que a su vez sólo podrá tener una presencia máxima de 10% de los trabajadores en la operación de este primer farmout.

Así, el 5 de diciembre podrán presentar propuestas licitantes en lo individual, que tendrán una participación de 60% en el contrato, contra 40% de Pemex; también podrán presentar consorcios de hasta tres participantes en los cuales se aumentó de 30 a 40% la participación del operador líder del proyecto, con lo que un socio con experiencia en operación podrá tener 20% o repartir su participación con un posible socio financiero.

En sesión extraordinaria del regulador, Pemex desistió finalmente de pedir la garantía corporativa de 10,000 millones de dólares en cartas de crédito cobrables en caso de incumplimientos de sus socios, ya que, a decir del director jurídico de la estatal, Jorge Eduardo Kim Villatoro, se estaría duplicando, pues se tiene que presentar para que las empresas se asocien con el Estado.

También se modificó la facultad de Pemex de remover por sí solo al operador; ahora deberán estar de acuerdo los socios no operadores, en una votación en que se supere 80% del consenso. Finalmente, se redujo a 10% la presencia máxima de trabajadores de la estatal, que siguen contratados por Pemex y sólo podrán permanecer hasta dos años en la operación de Trion.

Las reglas definitivas para el proceso:

Podrán participar empresas mexicanas o internacionales constituidas en México, con experiencia en la operación de este tipo de campos ya sea agrupados o en lo individual.

En consocio, con una participación de mínimo 40% para el operador designado, además de 10% del contrato para un socio con experiencia en este tipo de campos y un posible socio financiero, mientras Pemex tendrá 40% de participación.

En lo individual, con una participación de 60% y el restante 40% para Pemex.

Las firmas presentarán una garantía por 10,000 millones de dólares por incumplimiento, únicamente ante la CNH.

El plan de negocios de Petróleos Mexicanos (Pemex) 2016-2021 considera medidas que revitalizarán la actividad petrolera en el mediano y largo plazo, con lo cual retomará la fuerza como generador de crecimiento e incidirá positivamente en los niveles de competitividad de la economía del país, aseguró el sector privado.

El Centro de Estudios Económicos del Sector Privado (CEESP) destacó que el nuevo plan busca un saneamiento financiero que permitirá alcanzar un superávit primario de 8,400 millones de pesos en el 2017, después de cuatro años seguidos con déficit.

También anuncia que su balance financiero negativo en 149,000 millones de pesos se espera para este año se revierta para que en cinco años se obtenga un superávit de 43,000 millones de pesos.

Expuso que, además de la estrategia de reducción de costos, la estrategia de farmouts contribuirá para que la producción se incremente 15% hacia el 2021.

El CEESP destacó que también será posible que con la mayor actividad privada, la recaudación y el flujo de recursos de Pemex se incrementen, lo que fortalecería su situación financiera.

Fuente: El Economista

Big Oil Pledges $1B For Gas Technologies To Fight Climate Change

Some of the world’s biggest oil companies, including Saudi Aramco and Royal Dutch Shell, pledged on Friday to invest $1 billion to develop climate-friendly technologies as a global deal to wean the world off oil came into force.

The Oil and Gas Climate Initiative (OGCI), which also includes Total, BP, Eni, Repsol , Statoil, CNPC, Pemex and Reliance Industries, launched the Climate Investments fund which will invest in technologies to reduce carbon emissions but which will also help an increase gas use.

The companies pledged to use a large share of the $1 billion for speeding up carbon capture, use and storage (CCUS) in gas-fired power plants and towards reducing leakages of methane, one of the most polluting greenhouse gases.

«If we can reduce and build the technologies to monitor and reduce fugitive methane emissions that’s like an essential licence for us to be able to advocate natural gas,» BP Chief Executive Bob Dudley told journalists.

The investment is nevertheless dwarfed by the joint annual spending of the member companies, even as they battle one of the longest downturns in the sector’s history. Shell, Total, BP, Statoil, Repsol and Eni are expected to spend nearly $100 billion in 2016.

The 10 firms, which jointly produce around 20 percent of the world’s oil and gas, have already screened a list of 200 CCUS-related technologies and are now assessing which one or ones to develop to commercial scale.

The group will also invest in improving efficiency in transport and energy-intensive industries.

The announcement coincides with the official coming into force of the 2015 Paris Agreement, intended to wean the world economy off coal, oil and gas in the second half of this century in order to slash carbon emissions.

The oil and gas sector, which is directly responsible for 5 percent of manmade greenhouse emissions and the use of its products for another 32 percent, is under growing pressure from investors and the general public to help fight climate change.

«If the CEOs of the 10 largest corporations meet six times during the year it’s not for philanthropy, it’s real business,» said Patrick Pouyanne, chief executive of Total.

Critics have said oil companies need to do more to reduce emissions and to shield themselves from climate change risks.

«Companies could be worth considerably more, not less, if they aligned their portfolios with 2 C by exercising capital discipline and opting for lower-cost upstream projects that make both financial and climate sense,» said Anthony Hobley, chief executive of think tank Carbon Tracker Initiative.

Copyright: Rig Zone