Tuesday, January 22nd, 2019
Andres Manuel Lopez Obrador (AMLO) decided to close Pemex pipelines as a strategy to reduce fuel theft in Mexico. This generated fuel shortages around, but Moody’s Investor Service estimates that the benefits for Pemex could be large in terms of revenues.
Andrés Manuel López Obrador (AMLO) began his term as president of Mexico in December 2018, and some of his decisions have affected the development of several energy projects in different regions of the country. Local authorities spoke about this situation.
The refining sector is facing a difficult situation due to Pemex’s operational and financial problems. The NOC reported its fuel production metrics for December 2018, with negative results. Imports continue to win market share.
Enrique Peña Nieto (EPN), former President of Mexico, promoted Energy Reform with the promise of reactivating oil production in a short time. His government made three Rounds signing several contracts, but few agreements have given results so far.