MNI: PBOC Net Drains CNY51.03 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Higher At 7.1364 Tues; -1.28% Y/Y

CHINA PBOC CONDUCTS CNY216.27 BILLION VIA 7-DAY REVERSE REPOS TUES

CHINA SETS YUAN CENTRAL PARITY AT 7.1364 TUES VS 7.1316

MNI China Daily Summary: Monday, July 29

MNI: PBOC Net Injects CNY243.37 Bln via OMO Monday

MNI: FRANCE Q2 FLASH GDP +0.3% Q/Q, +1.1% Y/Y

MNI: FRANCE JUN CONSUMER SPENDING -0.5% M/M, -1% Y/Y

Australia Jun Total Dwelling Approved -6.5%

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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Pemex Gets Green Light for Deepwater Gas Field

NATURAL GAS

Mexico’s oil regulator has given the go-ahead to revamp plans for developing the Lakach deepwater natural gas project.

  • The field holds up to 937bn cubic ft of gas reserves (Bf3), which is intended to supply gas domestically. Increasing costs stalled the project earlier this year.
  • Previously, Pemex, in partnership with US New Fortress Energy, planned to start production from the field in early 2023. The companies indicated that they intended to station a 1.4mn tpy Fast LNG unit at Lackach.
  • For Q3 2022, Pemex reported a $2.6bn loss amid increased costs of gasoline, diesel, jet fuels and natural gas and the depreciating of the peso.
  • By 2030 Mexico’s natural gas production is expected to fall to 19Bf3/year, while demand would rise to 90/5Bf3/year, amid underinvestment in natural gas exploration, according to Rystad Energy. This could be offset by an increased focus on Mexico’s deepwater potential.
Energy BulletsCommodities
Energy BulletsCommodities

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