Pemex announced the National Hydrocarbons Plan (PNH) with challenging goals. However, the NOC has reported few advances in its drilling plans.
Pemex will invest US$58M to drill a new exploratory well in Tabasco, the National Hydrocarbons Commission (CNH) said.
Energy Reform opened the doors of the Mexican oil market to private investment, but authorities gave the best fields to Pemex in Round Zero anyways. The NOC made several investment commitments in E&P, but has not been able to fulfill them.
Former Finance Secretary (SHCP), Carlos Urzúa, left his position, putting even more pressure on the NOC’s financial situation.
The NOC celebrated the 40th anniversary of its production activities in Campeche by announcing important investments in the area.
The Energy Regulatory Commission (CRE) reported propane prices for June 2019. This metric has been showing a decrease in recent months.
Energy Reform allowed the entry of new players to the Mexican oil industry, ending Pemex’s monopoly of more than 80 years. Italy’s ENI announced major advances in an offshore project.
President Andrés Manuel López Obrador (AMLO) argued that companies have not generated benefits for Pemex or for the national oil sector. New players are proving him wrong.
Pemex is developing a risky offshore project in the Gulf of Mexico, despite saying that it would concentrate its limited resources in areas where it has more experience.
President Andres Manuel Lopez Obrador (AMLO) said that eliminating corruption within the NOC will be one of his main priorities. This is what the Public Function Secretary (SFP) had to say.
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