The Secretary of Energy (Sener) reported data on fuel imports for July 2019. Finally, the entity included imports of private companies, but their participation is small compared to Pemex.
Pemex reported its petrochemical production during the second quarter of this year, showing a poor performance. This metric has been steadily declining since 2017.
Energy Reform allowed the entry of new competitors to the Mexican energy market, through free competition. Several brands announced their plans for the gasoline sector and the results have been satisfactory, while Pemex has lagged behind in this new scenario.
Pemex is facing a difficult situation in operational and financial terms, and it seems like bad news continues for NOC. Fuel oil could be a new problem for the firm.
The Energy Regulatory Commission (CRE) reported propane prices for June 2019. This metric has been showing a decrease in recent months.
Companies have announced their plans for Mexico’s retail sector, providing results in the diesel distribution and service stations market.
Andres Manuel Lopez Obrador (AMLO) promised to reduce fuel prices in Mexico and these reported a slight drop in the last two months. However, they remained high compared to previous year.
Andres Manuel Lopez Obrador (AMLO), President of Mexico, plans to recover the metrics of the energy sector quickly, and the refining sector plays a key role in this process. Pemex reported its refining production in May this year, showing a recovery in this metric in recent months, but insufficient to meet its goals.
The government is currently investigating Pemex’s gasoline import scheme, controlled by subsidiary PMI Trading since 1992. The development of these and more stories in our periodic Retail summary.
The government of Andres Manuel Lopez Obrador (AMLO) continues to insist on the construction of a new refinery in Dos Bocas. Rocio Nahle, Secretary of Energy (Sener) and the private sector talked about this issue.
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