Monday, October 16th, 2017
Pemex keeps reporting red numbers in almost all its operational metrics; it seems like the company is justifying itself saying that it will focus on oil. Pemex propane production and imports are very low to meet local demand, leaving a big opportunity for other companies.
Energy Reform opened the doors of the Mexican market to new players like America’s Talos Energy, UK’s Premier Oil and Argentina’s YPF. Here is a brief recap of the entrepreneurs behind the incursion of these top global firms in Mexico.
The country is relatively calm with respect to social unrest directed against the oil and mining industry, but there are growing problems. Communities and environmentalists are beginning to protest against Pemex and environmental laws.
Representative of Pemex’s commission, José Enoch Castellanos, said that companies will be able to directly import fuel next year, so long as they have the necessary permits and infrastructure. These and other stories in our periodic Downstream Retail summary.
Mexico has problems in its oil production, especially because of Pemex’s difficult situation. However, the success of the past oil rounds has generated many expectations about a recovery in this issue. The Ministry of Finance and Public Credit (SHCP) published its forecast of non-Pemex production.