Pemex promises 2,000 million dollars to eliminate methane emissions

Petróleos Mexicanos (Pemex) projects an investment of 2,000 million dollars to reduce methane gas emissions in oil exploration and production processes by up to 97%, in what would be one of its largest investments in remediation of environmental externalities in history.

Last Friday, President Andrés Manuel López Obrador – who made the announcement as part of a decalogue of measures by the Mexican government against climate change – stated that the oil company will make this investment with its own resources and “international credits”, but did not give details of when that goal will be achieved or about the means planned for it.

Last year, the country broke all its records in burning and venting natural gas (which is essentially methane), reaching a waste of approximately 11%, according to its own reports. Methane is a colorless, odorless gas eighty times more powerful than carbon dioxide in terms of its ability to generate global warming.

In the virtual forum of the Major Economies on Energy and Action, convened by the United States, President Andrés Manuel López Obrador presented a decalogue of actions with which Mexico assures that it will collaborate to face climate change. “I express without a doubt our solidarity in this transcendent matter to President Biden and Secretary John Kerry, a true environmentalist,” said López Obrador.

However, waste of natural gas in the development of hydrocarbon fields in the country reached the maximum of at least a decade last year, with an equivalent of 11% of the extraction, that is, a volume of 520.8 million cubic feet. daily on the average of the latest data available, of which 99% corresponds to Pemex in its allocations, waste equivalent to at least a value of 1,854 million dollars per day (at last year’s gas prices) while the country imported 73% of the gas that was distributed.

This average daily value of waste increased 113% compared to the previous year, in which an average of 870,000 dollars per day was wasted in volume of gas flared or vented.

In the annual comparison when reaching 2021, the volume of national gas production was reduced by 2.2%, falling to 4,836 million cubic feet per day; On the part of Pemex assignments, production fell by 1.8%, reaching 4,613 million cubic feet, while production from contracts fell 9.8%, reaching 222 million cubic feet per day.

Meanwhile, at the end of the Mexican president’s participation, from the White House, President Joe Biden thanked Mexico for its commitment to help address the world’s urgent energy and environmental problems. Similarly, he highlighted López Obrador’s position of collaborating with his administration to achieve these objectives in the region.

AMLO reiterates measures

At the same time, López Obrador presented a decalogue in which he emphasized the pride that Mexico is developing what “is probably the most ambitious reforestation plan in the world.” He explained that Sembrando Vida is financing the planting of fruit and timber trees on the plots of 420,000 peasants who are paid to work their land with an annual investment of public resources of 1,500 million dollars.

In addition, López Obrador told the world that in order to reduce the generation of pollutants and expand the capacity to process crude oil, since 2019 the modernization of six refineries began, the construction of one more began and another was acquired, the refinery plant. Deer Park which was half of Shell, Texas. At the same time, investment was made in a coking plant in Tula, Hidalgo, to process fuel oil, produce more gasoline and reduce pollution.

“We are advancing in the purpose of achieving self-sufficiency in the production of fuels, gasoline, diesel, jet fuel. For this reason, since 2019 the modernization of six refineries began, we acquired one more in Texas and we are about to inaugurate a new refinery in Dos Bocas, Tabasco” , he detailed.

Finally, the president explained that with the same purpose of processing all the raw material in the country, all the crude oil, and reducing fuel costs for consumers, a coking plant is under construction in Tula, Hidalgo, and another one is about to start. coking plant at the Salina Cruz refinery, Oaxaca, which will allow the transformation of residual fuel oil into gasoline, and achieve a significantly lower environmental impact, that is, pollute less or stop polluting.

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