Thursday, August 22nd, 2019
The Mexican government has announced several measures to help Pemex, starting with a lower tax burden. However, it seems like this will not happen in priority fields.
This is how the Ministry of Finance and Public Credit (SHCP) is working to boost Pemex’s production.
Pemex wants to change the negative trend in its oil production as soon as possible, and expectations are focused in 20 priority fields. The National Hydrocarbons Commission (CNH) ruled on the development plan for two of these areas.
Pemex is reporting poor oil production, affecting its exports. The firm reported oil export figures for June this year and these showed a negative behavior compared to previous month. The firm is exporting less than 1,000mbd. Shipments decreased to all regions.
The government was heavily criticized after presenting Pemex’s Business Plan. The National Hydrocarbons Commission (CNH), however, announced important upcoming investments.
Mexico’s Security, Energy and Environmental Agency (ASEA) granted Pemex a license to develop the Dos Bocas refinery, so long as the firm complies with these requirements. The development of these and more stories in our periodic Eco summary.
Pemex is facing a crisis in its oil production, as the company has been producing below 2,000mbd and it has many operational problems. The NOC announced a plan to develop 22 fields, generating little enthusiasm among experts. Concerns continue because its production is concentrated in only a few blocks.
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