The President of the Mexican Republic Oil Workers Union (STPRM), Carlos Romero Deschamps, was accused of oil theft. These and other stories in our periodic summary of labor-related issues.
The National Hydrocarbons Commission (CNH) approved an agreement between PC Carigali (subsidiary of Petronas) and China Offshore Oil Corporation (NYSE: CEO) on a block awarded in Round 1.4.
The president of Mexico’s Banks Association (ABM), Marcos Martinez, spoke about how years of underinvestment affected the country’s oil industry.
Local deputies expressed their concern about the possibility of increasing the development of shale gas projects in Mexico.
Pemex reported its trade balance for December 2018 and this metric stays in the red without a clear solution in the short or medium term. The company has poor operational metrics, forcing it to maintain high import levels to supply local demand. Rocio Nahle, Secretary of Energy (Sener), spoke about this issue.
Andres Manuel Lopez Obrador (AMLO) decided to indefinitely postpone the oil rounds in Mexico, generating uncertainty in the industry. Representatives from the private sector spoke about this situation and other issues relevant to the industry.
Once again, the president criticized the administration of Enrique Peña Nieto and demanded an apology from those who supported the changes introduced by Energy Reform.
The president apologized to Mexicans if his new strategy to fight fuel theft has caused discomfort, but assured it is necessary if they want to see oil theft levels go down and eventually disappear. The development of these and other stories in our periodic Security summary.
The government created the Mexican Petroleum Fund for Stabilization and Development (FMPED) three years ago with great expectations. The FMPED reported its revenues during 2018 and it exceeded the established income target for second year in a row.
Energy Reform was created with the goal of increasing production and reserves metrics in Mexico and private companies continue to give good news on these issues. Fieldwood Energy and Petrobal announced a new mega discovery.
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