Pemex had to import light oil to send to the National Refining System (SNR) last year. Andres Manuel Lopez Obrador (AMLO), President of Mexico, opposed this alternative, and he argued that this was not going to happen again. However, it looks like the NOC has imported light crude yet again.
New players have doubled their gasoline and diesel imports to Mexico, while Pemex’s import metrics decreased. The development of these and more stories in our periodic Retail summary.
The government of Andres Manuel Lopez Obrador (AMLO) has taken several measures to solve the operational and financial crisis of Pemex. The Mexican government continues to show its optimism about the possible results in the short term. This time, Rocio Nahle, Secretary of Energy (Sener), talked about the refining production goal for this year.
The Commission of Economic Competition (Cofece) warned about lack of gas stations in most of Mexico.
Pemex opened the door to mixing ethanol with Magna fuel, as of next year.
The Mexican government continues to show its optimism about the recovery of Pemex’s operational metrics. Rocio Nahle, Secretary of Energy (sener), spoke about the expectations of refining production by the end of this year.
The government of Andres Manuel Lopez Obrador (AMLO) has committed to solving the Pemex crisis, but this could have an effect on the country’s credit rating. Moody’s talked about this situation.
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.
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