The Federal Government seeks to create a competitive energy market in the country and the gasoline industry will be open to free competition next year.
Mexico is experiencing a time of uncertainty with the results of the presidential elections in US. Some ideas of Donald Trump could affect the country, but Mexico would not be the only one affected, the US energy sector could suffer too.
After the increase in gasoline prices, several politicians have shown their disaffection towards the Energy Reform; an ‘adjustment’ to benefit Pemex — and Mexico in general — was proposed by a PRD deputy.
The Mexican firm has had to adapt to the new environment of low oil price. This process has not been easy for the company; it has faced large budget cuts. Due to the cuts, the company could not meet the goal to achieve a 98% of gas use. Pemex hopes to achieve it in coming years.
Mexico’s oil production represents only a third of its actual potential. With the new explorations that are taking place in Campeche, this state will occupy an important place in the oil industry.
Mexican authorities have talked a lot about the gasoline price liberalization. They planned to begin it in 2018. The government advanced the program to start the liberalization next year. The process will be by regions and begins in February.