Pemex reported its oil production metrics for May this year, with poor results, generating much controversy. President Andres Manuel Lopez Obrador (AMLO) spoke on this topic, trying to send a message of tranquility.
President Andres Manuel Lopez Obrador (AMLO) held a private auction of oil services to help improve the operational metrics of Pemex. Marinsa won one of these contracts and the firm will start working quickly.
In his most recent Op-Ed for El Financiero, analyst Rubén Rivera explained why he considers that the NOC is being treated differently fom other firms that have its same rating.
Pemex published extraction figures for May 2019, reporting yet another decrease in this metric, compared to April.
According to official data, foreign firms have been advancing on the development of oil projects, while Pemex seems to be ‘stuck.’
The Energy Commission of the Business Coordinating Council (CCE) said it was “surprised” because the Energy Secretariat (Sener) canceled Pemex farm-outs, the same day they signed an investment agreement for the energy sector.
The NOC reported natural gas production metrics for April this year, showing yet another decline. The average production during this year is creating several concerns.
Pemex has great expectations for the Ixachi field development, considered its “star block”. The arrival of Andrés Manuel López Obrador (AMLO) to the Presidency of Mexico, generated many changes in the NOC plans and the investment budget for this field changed considerably in recent weeks.
Pemex said that the President’s refinery plan is viable, despite its high financial and environmental risks. The development of these and more stories in our periodic Eco summary.
Andrés Manuel López Obrador (AMLO) promised to help solve the serious financial and operational situation of Pemex in a short time and it seems like the NOC is responding in terms of investment.
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