Diavaz signs over its participation in the Ébano with Pemex for a Banorte loan; Hokchi Energy gets approval for an offshore evaluation program; Pemex posted the lowest refining output of 2021 in April.
Pemex is set to move forward with a significant investment in the Ek-Balam offshore field; the NOC will continue to produce at the Ixachi field; CFE has decreased its use of bunker fuel which brings implications for the NOC.
Despite the regulatory and political challenges, ExxonMobil is in Mexico to stay; Pemex will not drill Zama well; Supreme Court to hear Cofece-CRM dispute.
Russian oil producer Lukoil is set to drill its first exploration well in Mexico; Pemex gets approval to adjust plans for Uchukil and Samaria; Analysts see the upside in Deer Park compared to Dos Bocas.
Foreign investment and economic recovery was a central theme discussed at the summit between AMLO and US VP Kamala Harris; PRI senators filed against the Hydrocarbons Law with the Supreme Court; Pemex says it is ready for the hurricane season.
AMLO says once an election in the Pemex workers’ union occurs there will be a review of its collective contract; ENI will invest nearly US$ 30M into an offshore exploratory well; AMLO says the Salina Cruz refinery has been a target of sabotage.
AMLO’s political pals want the CRE to have a more direct role in regulating propane prices; An opportunity for petrochemicals is being passed over for refining says one columnist; the general public agrees with Pemex’s Deer Park purchase although the experts say otherwise
Under AMLO, Pemex investments are actually lower than in the past; Questions surface around the legal requirements for fuel from Deer Park; while international trends push towards cleaner fuels Pemex stays stuck in its ways
Pemex was forced to import more fuel to cover for a 25% drop in output in April; AMLO assures the NOC will produce no more than 2Mbd; Roma Energy gets an exploratory well approved by the CNH
Production of crude and equivalent stayed nearly even in April 2021, Mexican judges also strike down AMLO re-monopolization of Pemex fuel distribution; A noted drop in fuel robbery reported by the NOC.