U.S.-MEXICO ENERGY FORUM
December 8-9, 2016
The Woodlands Resort and Conference Center
The Woodlands, Texas
The United States â€“ Mexico Chamber of Commerce is pleased to announce the first U.S.-Mexico Energy Forum, which will take place December 8 and 9, 2016 at The Woodlands Resort and Conference Center, The Woodlands, Texas.
Given the importance of the energy sector for economic growth and recent developments that have positioned the North American region in a path towards energy independence, we are presenting a unique opportunity to discuss the different factors that have contributed to this major shift in the energy industry.
According to the U.S. Energy Information Administration, the U.S. has significantly reduced the oil imports in order to fulfill its daily oil demand. While in 2005 those imports accounted for 65% of the demand, in 2015, the U.S. imported only 28%, after a record year of domestic oil production. Some estimates believe that by 2020, the U.S. will import 11% of its daily oil needs, and that those imports could be supplied by Canada and Mexico.
Canada’s oil reserves are the third largest in the world, and for our partner the development of the infrastructure to facilitate exporting their crude oil is critical. As of August 2016, crude contributed to more than $30 billion annualized in net export revenue. However, Canada relies heavily on U.S. imports, and is looking to diversify and access Asian-Pacific, and European markets.
In regards to Mexico, the focus is still on the energy reform enacted in 2013. The country ranks 11 in oil production, and 13th in oil exports, but the decline of oil prices have affected production and decreased PEMEX revenue about 30% since 2013. The reform has received less attention than expected from investors, however, it is still premature to reach a conclusion on the benefits for Mexico’s economy, as several bids are still in progression, and there is an estimated 29 billion barrels of oil equivalent in conventional and Deepwater, and 60 billion barrels of untapped shale reserves, which represents and enormous opportunity for foreign companies.
On the other hand, the availability of newer technologies and environmental concerns has brought more attention renewable energies, including hydropower, geothermal, wind and solar energy, and biofuels, among others.
Another aspect is education. The U.S.-Mexico Cultural and Educational Foundation is working to establish a Training Consortium for Energy Professionals and Technicians, with particular focus on enhancing the capacity of energy executives and operators from Mexico where the recent sector reform has highlighted the need for highly trained professionals and technicians in this field. It is deemed that the demand exists to accelerate the process of, not only technology transfer, but to enhance the development of related knowledge and expertise in a broad industry of processes related to the energy sector, particularly the petroleum industry, such as in contract development and administration, upstream techniques and processes, and downstream operations and control. Additionally, it appears that the need also exists to expand the cadre of trained professionals and technicians in midstream operations, to include analysis, constructions, maintenance, and control processes, along with the related safety and environmental fields.
Under these circumstances, governmental cooperation between the NAFTA partners is a must, in order to facilitate investment, extraction, transportation and distribution of energy fuels and energy products. Working towards the standardization of processes and regulations, and the exchange of accurate information and technology transfer, has become crucial for the economic development of the North America region.
The U.S.-Mexico Energy Forum, is the Chamber’s contribution to facilitate the exchange of ideas and collaboration to identify common challenges, solutions and opportunities in the energy industry of North America.Â
*With information from CNN Money, Bloomberg, BBVA, Oilprice and the U.S. Energy Information Administration.
Registration will open soon. Limited number of rooms available. Please register early.
Sponsorship opportunities are available.
For more information please contact us at (703) 752-4751 or email@example.com