Andres Manuel Lopez Obrador (AMLO), President of Mexico, has announced several measures to solve the Pemex crisis. In addition, oil prices have recovered, creating expectations about a possible financial improvement of the NOC. However, these variables have not been enough to resolve the concerns about the firm.
Pemex reported oil export figures for February and these showed a positive behavior compared to previous month. Shipments increased considerably to Far East, increasing its participation in the export distribution.
Pemex reported its trade balance for February 2019 and this metric, surprisingly, changed from red to green in recent months. The company has poor operational metrics, but it has managed to change the negative trend in its trade balance.
Andres Manuel Lopez Obrador (AMLO) promised to change the situation of the energy sector quickly. Representatives of Pemex talked about the self-sufficiency of fuels in the country and they showed their optimism on this issue.
Energy Secretary (Sener), Rocío Nahle, published a list of the fuel retailers that offer the highest and lowest gasoline prices in Mexico. Here are the details.
The Energy Regulatory Commission (CRE) approved new contract models of gasoline sales in Mexico. This decision could affect the interests of Pemex Transformación Industrial (Pemex TRI) and the NOC started a legal process against it.
Andrés Manuel López Obrador (AMLO), president of Mexico, promised to help Pemex to solve its financial and operational crisis. Carlos Urzúa, Secretary of Finance and Public Credit (SHCP), spoke about the new business plan and new aid for the NOC.
Andrés Manuel López Obrador (AMLO) promised to recover the country’s energy self-sufficiency quickly, but this process will take longer than expected. Meanwhile, the private sector is still preparing to meet local demand with imports.