Tuesday, September 17th, 2019
President Andres Manuel Lopez Obrador (AMLO) announced the development of 20 priority fields as the main strategy to increase the country’s oil production. Pemex confirmed the investment budget for 16 of these areas.
The Mexican government announced the national budget for 2020, and Pemex plays an important role in this matter. Mexican authorities have a “saved budget” for the NOC, generating several speculations about the fate of this money.
Although it has had a tough time letting go of its monopoly, Pemex is no longer Mexico’s main player in the energy market, and figures prove it. The development of these and more stories in our periodic Retail summary.
Andres Manuel Lopez Obrador (AMLO), President of Mexico, asked oil companies for results quickly to contemplate the possibility of reviving oil auctions. The firms have responded positively and PetroBal announced its production goal for next year.
The Secretary of Finance and Public Credit (SHCP), Arturo Herrera, explained why, according to him, investing in the NOC is the way to go.
Mexico’s Business Coordinating Council (CCE) spoke about what it expects from next year’s budget, days before the Ministry of Finance and Public Credit (SHCP) presents its proposal to the Congress.
Signing several partnerships with private companies was one of Pemex’s main strategies to solve its operational and financial crisis, but the arrival of Andrés Manuel López Obrador (AMLO) to the presidency of Mexico changed these plans. Now, the bet is for the Exploration and Production Integral Service Contracts (CSIEE) and the government is optimistic about these agreements.
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