Andres Manuel Lopez Obrador (AMLO) decided to close Pemex pipelines as a strategy to reduce fuel theft in Mexico. This generated fuel shortages around, but Moody’s Investor Service estimates that the benefits for Pemex could be large in terms of revenues.
The refining sector is facing a difficult situation due to Pemex’s operational and financial problems. The NOC reported its fuel production metrics for December 2018, with negative results. Imports continue to win market share.
Mexico started in 2019 with a great debate about the gasoline market. The Mexican Association of Gasoline Businessmen (Amegas) spoke about the alternatives for fuel transport in the country and their costs. In addition, the Mexico’s Fuel Retailers Association (Onexpo) commented on this issue as well.
Andres Manuel Lopez Obrador (AMLO) wants to reactivate the metrics of the refining sector quickly, awakening the interest of several investors and companies. Oscar Scolari Romero, CEO of Rengen, spoke about the firm’s plans in this sector.