America’s IE Nova is one of the companies interested in replacing Pemex as a gas marketer; however, according to IE Nova’s vice president, competition with the NOC cannot be underestimated.
Mexican authorities promised price reductions this year, but instead, prices have increased considerably. The ‘gasolinazo’ caused widespread rioting. The price of propane also increased after market liberalization.
Williams Cos oil and gas pipelines are expected to transportMexican oil from the Gulf of Mexico because they have available capacity.
The Mexican company expects to improve its operating performance this year. Pemex has increased the budget for exploration activities, with the aim of restoring reserves and improving its production in the medium term.
Natural Gas Fenosa wants to consolidate itself as the main gas supplier in the country. To achieve this, the company plans to invest in the next four years in different areas of Mexico.
Mexico began the year with the liberalization of gasoline prices and an increase of these. Authorities have recognized that the industry has major shortcomings.
The country’s production continues to fall. Although production data for December 2016 is not available, it is clear that oil extraction will be lower than in 2015.
In recent days, the main topic in Mexico, has been the liberalization of fuel market. Mexican authorities optimistic about this process and have high expectations. It will start in January.
Some areas of Mexico are suffering from gasoline shortages, because Pemex has been unable to guarantee the supply.
Pemex has serious problems in fuel production. This keeps falling and there are no signs of a possible solution in the short term.
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