Andrés Manuel López Obrador (AMLO) gave a major oil and gas policy speech (in Campeche of course) where he set the goals for his presidency and suggested private investment might have a role, but only if it ‘behaved well’.
Carlos Treviño, CEO of Pemex, made an important announcement about the Ixachi onshore field located in the state of Veracruz. The firm increased the prospects for 3P reserves in this area, after its discovery in November 2017. The NOC expects this field to start producing soon.
Pemex announced the discovery of new oil deposits on the coasts of Tabasco recently. The refining sector could be one of the main beneficiaries of this news.
Pemex has reported little exploratory activity in recent years, affecting its reserves and oil production metrics. However, the NOC recently announced a large light crude oil discovery . Experts talked about this announcement.
After sending ‘go away’ messages to the industry during his campaign, AMLO confirmed that he will seek to improve production levels in Mexico together with foreign firms.
The National Hydrocarbons Commission (CNH) granted several production fields to Pemex in Round Zero with the commitment to make several investments. However, the NOC has not fulfilled with the agreements so far and the commission requested progress in key areas such as Chicontepec.