Andrés Manuel López Obrador (AMLO), President of Mexico, has rejected Energy Reform and the oil rounds. He criticized the contracts signed in past auctions, but his government is benefiting from these processes.
Pemex announced the development of 22 oil fields over the coming years as the main strategy to reverse the downward tendency in its oil production. The NOC has high expectations in these areas for the short term.
The steel company Tenaris announced its operational and financial results for the second quarter of 2019. The company reported increased revenues thanks to Pemex’s new strategy of offering service contracts and to Energy Reform.
Energy Reform allowed the entry of new competitors to the Mexican energy market, through free competition. Several brands announced their plans for the gasoline sector and the results have been satisfactory, while Pemex has lagged behind in this new scenario.