Pemex is planning to open service stations with its image in other countries. It has the aim of diversifying its markets and start having new revenue resources. Pemex is seeking alternatives to face its difficult financial situation to remain economically viable.
During the first half of the year, the Mexican state received MXN$314B in revenues from tax collection to the oil industry, according to the Ministry of Finance and Public Credit (SHCP). This figure represented only 13.5% of state spending, something that had never been seen in Mexico.
The Mexico´s economy contracted in the second quarter of 2016. It is the first drop in the last three years. According to CNN Español, the Gross Domestic Product (GDP) contracted 0.2% compared to previous period. This contraction was the first since 2Q13.
The state-oil company is facing a difficult financial situation aggravated by the oil crisis of recent years. According to a report in Zocalo, Pemex´s external auditors believe that the oil firm does not have the ability to continue as a business, if the operating losses continues.
The Energy Reform seeks to make big changes in the country. To do it, the government estimates that it is necessary to train 135 thousand technicians and specialists.
In recent weeks, it has been discussed pretty much about the market Liquefied Petroleum Gas (LPG). There is a dispute between the government and gas distributors because the decision to decrease the maximum price of this hydrocarbon.
After the reduction announcement to the price of Liquefied Petroleum Gas (LPG), some suppliers threatened that they would stop importing some of the domestic demand volume. It could create a shortage.
The continuing decline in production could aggravated Pemex´s financial situation. According to a report in El Financiero, the company production could fall to 1.6mmbbl in 2020, due to the company does not have the resources or technology to modernize the oldest fields.
Only 26% of 100 operational managers and private equity firms worldwide (who have invested in oil during the last two years), showed interest to invest in the next 12 to 24 months, in the Latin America oil sector, according to a survey of the consulting agency Ernst & Young (EY).