Oil Daily | Mexico's 10-Year Fracking Plan to Boost Oil, Gas Production Amid Declining Outputs

【Others】

NASA plans to establish a nuclear reactor on the Moon by the decade’s end to power bases and become the first nation with continuous nuclear power there, aiming to surpass Russia and China in the "second space race." This follows earlier announcements from Russia and China about similar lunar projects.

Argentina aims to expand its energy exports through the Vaca Muerta shale play, threatening Patagonia's UNESCO heritage site. The Vaca Muerta Sur pipeline, led by YPF, Shell, and Chevron, poses risks to the unique wildlife, including endangered southern right whales, raising concerns among environmentalists.

【Latest Oil Policies】

Mexico announced a 10-year plan to reverse declining oil and gas production by increasing fracking. President Claudia Sheinbaum approved the initiative despite earlier opposition. Pemex aims to tap shale resources to reduce dependence on U.S. imports, revitalizing production amid trade tensions and declining conventional outputs.

【Industry News】

China’s growth in new energy vehicles slowed to 12% in July due to weaker hybrid demand. Car sales rose 6.9%, down from June's 18.6%. Despite this, battery electric vehicles outsold gasoline cars. Overcapacity and price wars challenge automakers like BYD, while the government seeks to curb excess capacity in the EV sector.