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.
Without an apparent justification and with a price below its commercial value, Pemex let go of its participation in the ‘Ramones Phase I’ project, said the Superior Audit of the Federation.
Pedro Joaquín Coldwell, Secretary of Energy (Sener), spoke about the oil rounds benefits in terms of production and reserves in the medium and long. Mexican authorities are optimistic about the oil sector, thanks to the new market players.
Pemex created a large gas processor complex called ‘Ciudad Pemex’ in 1958 in the state of Tabasco. This area was a great emblem of economic prosperity and development for the region, but this situation has changed in recent years.
Carlos Treviño, CEO of Pemex, talked about the company’s plans about oil imports and the quantity to bring to Mexico. He pointed out that this crude will be sent to its main refineries in the country.
Pemex is getting further away from the 2,000mbd target every month, and the poor trend continues, without a possible solution in the short term. The company published extraction figures for August.
Pemex received the most attractive oil fields in the country in Round Zero, with the commitment to make several investments in these areas and take advantage of their potential. However, the NOC has not fulfilled the commitments and the firm will need a huge budget to invest in these blocks.
According to Pablo Zárate, information director of Pulso Energetico newspaper, investing in Pemex and increasing its production could weaken it, because the firm has not achieved enough profitability to operate with good finances.
Pemex and Talos Energy announced a preliminary agreement on the unification of two important oil blocks in the Gulf of Mexico.
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.
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