The Secretary of Finance (SHCP), Carlos Urzúa, and Pemex’s CEO, Octavio Romero, will have to negotiate how much money will be given to the NOC for the assets that it should have developed in Round 1.
Andrés Manuel López Obrador (AMLO) wants to reactivate Pemex’s operational and financial metrics quickly. He announced an increase in Pemex budget for next year and Octavio Pastrana, Independent Advisor to the NOC spoke about this decision and its benefits.
The NOC’s new CEO, Octavio Romero, spoke about his plans for Pemex during the next six years.
Pemex is facing a difficult operational and financial situation in all its business areas, but refining has been one of the most affected. The National Refinery System (SNR) is working at very low efficiency rates.
The NOC will soon start developing the Nobilis-1 Offshore field in the Gulf of Mexico. Here are the details.
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 published production figures for October, reporting a new decrease in this month. The firm had reported an increase in September, but the firm lost the ground gained this month, reaching historical low levels.
Pemex has 255 managers in strategic positions in the company, and several of them have recently resigned. This situation has created concerns within the NOC.
Pemex reported its trade balance for the third quarter of this year and its performance continues in the red. The company has poor operational metrics, forcing it to increase imports to supply local demand. However, the company has reduced its deficit in recent months.
The firm does not plan to renegotiate a 20-year contract to supply ethane to Pemex, but is open to discussing alternatives with the new government.
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