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.
Pemex monopoly is slowly fading away. To date, the firm competes with 56 new players that have arrived to the Mexican market. The development of these and more stories in our periodic Retail summary.
Despite the arrival of new players to the Mexican market, the NOC has received the majority of the contracts signed during oil Rounds.
The NOC reported natural gas production metrics for September showing a recovery compared to same period last year, but insufficient to solve the current crisis. A region in Tabasco is preparing to boost investments in the natural gas sector.
Pemex has reported poor operational metrics in the refining sector, especially in fuel production. The NOC’s revenues had reported a good performance, thanks to the increase in prices, but the trend is changing.
The Superior Audit of the Federation (ASF) has made complaints about possible irregularities in the cash management of Pemex subsidiaries abroad. Rocio Nahle Garcia, AMLO’s Secretary of Energy (Sener), spoke on this topic.
The Pemex refining crisis is affecting several sectors in Mexico and the company has not yet announced a strategy to solve it in the short term. The jet fuel market is increasing is dependence on imports due to Pemex ‘s lack of capacity to serve local demand.
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