A few months ago, Andres Manuel Lopez Obrador (AMLO), President of Mexico, asked private companies to show results in exploratory and production issues. Companies have responded to this request quickly. Ophir Energy announced a new discovery and the firm talked about its plans in the country.
President Andrés Manuel López Obrador (AMLO) continues to review the contracts Pemex signed with companies. Here is what has happened so far.
Andres Manuel Lopez Obrador (AMLO) has argued that private companies are not investing in the oil sector and he decided to indefinitely freeze new rounds because of this situation. However, foreign companies have made large investments in the sector in recent years.
The Mexican Association of Hydrocarbon Companies (Amexhi) announced Merlin Cochran as its new General Director. The association pointed out his experience in the oil sector. Cochran sent a message to the government.
Alpek developed a block with gas potential in Burgos (Tamaulipas), seeking to integrate wet gas into its production.
The National Hydrocarbons Commission (CNH) reported private (non-Pemex) oil production in December 2018. The companies have been producing for a two years and a half in the country and current figures represent a small portion compared to Pemex metrics, but they have increased considerably in recent months.
The Mexican Association of Hydrocarbon Companies (Amexhi) said that regulatory bodies should keep their autonomy.
Pemex operational and financial crisis affected the economy of producing regions in Mexico. However, Energy Reform allowed new players to enter the sector, and they are helping to recover the industry metrics and local economies.
Repsol (MSE: REP) announced new infrastructure projects to develop in Mexico. The company expects to increase the total storage and distribution capacity for hydrocarbons in the country.
BHP Billiton, in alliance with Pemex, is carrying out activities to develop the well-known Trion block. The company announced new investments in this important area located in the Gulf of Mexico.
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