Oil prices have shown volatility in recent weeks, forcing the Ministry of Finance and Public Credit (SHCP) to make a decision to avoid large variations in the gasoline sector. The SHCP made adjustments to the Special Tax on Production and Services (IEPS) of gasoline.
Pemex continues to have several problems in its refineries, without stabilizing production, increasing its dependence on imports mainly from the United States. The government has let this situation get worse and has offered little help to Pemex in this issue.
Top global firms like ExxonMobil (NYSE:XOM), Chevron (NYSE:CVX) and Repsol (MSE:REP) reported positive advancements in their projects in Mexico. The development of these and more stories in our periodic Retail summary.
Energy Reform generated high expectations to boost the energy sector in the country. However, some analysts and experts in the sector have shown their concern about some flaws in the jet fuel market.
Mexico keeps increasing its dependence on US exports and so again, we analyze the gap between natural gas figures by the Secretariat of Energy (Sener) and the Energy Information Administration (EIA) on. However, gas imports decreased in February and both entities are showing a similar path.
Mexico is facing several problems in the energy market and some regions of the country are reporting shortages due to this situation. Pemex problems and lack of infrastructure are the main causes of these problems. S&P Global Platts Analytics spoke about this situation.
Some companies announced that they will file a complaint against Pemex for providing its analysis services for free, only to the NOC’s franchises. The development of these and more stories in our periodic Retail summary.
The Energy Regulatory Commission (CRE) is now reporting propane prices in the country. These increased substantially last year, causing much dissatisfaction and other economic consequences. However, it seems like this metric is changing its trend, at least in 1Q18, but prices are still high compared to previous years.