Mexico Bans Fracking in Key Shale Basin
Aramco Deepens Asia Oil Discount Ahead of Possible Hormuz Deal Julianne Geiger is a veteran energy journalist and market analyst with more than a decade of experience covering the global oil and gas sector.
Her… Mexico has ruled out fracking in a key shale basin, drawing a line through a resource-rich area even as the country looks for ways to cut its dependence on U.S.
President Claudia Sheinbaum said hydraulic fracturing will not be allowed in the Tampico-Misantla basin beneath Veracruz and Tamaulipas.
The government cited the basin’s dense population, indigenous communities and freshwater reserves.
Sheinbaum ordered a panel to examine whether unconventional gas could help reduce imports from the United States.
Mexico buys more than 6.5 billion cubic feet per day of pipeline gas from its northern neighbor, covering roughly 75% of domestic demand.
The commission recommended boosting conventional gas production first.
Even with the proposed measures, Mexico’s reliance on U.S.
supply would fall only to about 50%, according to Sheinbaum.
Mexico would need unconventional gas to push that figure lower.
The panel said future fracking should be limited to basins containing salt water rather than freshwater, leaving northern shale formations in play.
Sheinbaum campaigned as a critic of fracking and its environmental costs.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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