The oil-company continues to show declines in its operations. Pemex refining capacity use has been below 65% during 2016, whereas 10 years ago, the capacity utilization was above 90%, according to a report in NorteDigital.
Arab investors are looking to sectors like Energy and Tourism. According to a report in Forbes Mexico, private funds and sovereign capital of United Arab Emirates (UAE), Qatar, Kuwait and Saudi Arabia are interested in the country.
Upcoming tenders to explore in Mexico´s deepwater areas will be held very soon (Dec. 5). There are beginning to emerge some rumours about the companies concerned and possible alliances.
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.