Pemex criticized over new methane release

Researchers reported a new “ultra-emission” methane gas leak at a Pemex facility, just weeks after the company promised a major remediation effort to clean up the practice.

Scientists at Universidad Politécnica de Valencia discovered a new mass release occurring between August 5 and August 29, Reuters reported.

Three satellites reportedly captured images of methane plumes at the Zaap field, part of the Ku-Muloob-Zaap asset, one of Mexico’s largest and important upstream assets, operated by Pemex’s E&P unit PEP.

One of the scientists, Itziar Irakulis-Loitxate, estimates some 44,064t of methane were released over the Zaap field, equivalent to 3.7Mt of CO2, according to the report.

The issue of methane flaring has gained attention in recent months.

Mexican President Andrés Manuel López Obrador in August announced plans to invest US$2bn to reduce methane gas emissions by as much as 97% in the extraction and production process.

The colorless, odorless gas is much more potent at trapping heat in the atmosphere than carbon dioxide, contributing significantly to global warming, and in 2021, the country broke records for flaring and venting of natural gas, mostly releasing methane.

In June, the European Space Agency (ESA) reported a 17-day “ultra-emission event” in December 2021, also at the Zaap field.

ESA determined an estimated 40,000t of methane were released into the atmosphere over Zaap in the period.

NEW CFO

The news agency also reported Pemex has named Carlos Cortez, previously deputy director of budget and accounting, to take over as the NOC’s CFO, replacing Antonio López.

López, who took over the reins of the finance department as a substitute in December 2021, returns to the oil company's risk management unit, according to sources Reuters cited, adding the changes took place last week.

The shake-up follows recent reports that the company’s flagship refinery project, Olmeca (ex-Dos Bocas), was experiencing severe cost overruns, with the board of directors recently moving to add US$6.4bn to the budget of US$8.9bn, and some estimates showing the final cost could surpass US$20bn.