Pemex announced its financial and operational results for the third quarter of the year, highlighting positive performance in key metrics such as EBITDA, net income, operating income and total sales, among others.
The NOC will import 1.4mmbl of light Bakken crude next month, the firm said in a statement.
The president-elect sent a rather aggressive message to Fitch Ratings, after it lowered the NOC’s credit rating.
The government of Enrique Peña Nieto created Energy Reform with high expectations about the benefits in oil production especially. However, results in the short term were not those expected.
Pemex continues to face a difficult situation with its production metrics and experts believe that this situation could get worse, affecting the supply of natural gas in some areas of Mexico.
Pemex announced the discovery of new oil fields last week, and some of these areas had already been announced a few years ago, but the lack of budget had not allowed developing them.
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.
Jose Antonio Escalera Alcocer, Director of Pemex Exploracion and Produccion (PEP), spoke about Mexico’s oil potential, the next Federal Administration and Pemex’s budget needs.
The National Hydrocarbons Commission (CNH) wants to promote new natural gas exploration and production projects in Mexico to take advantage of the country’s potential in this issue.
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