Mexico celebrates 81 years of oil expropriation led by President Lázaro Cárdenas del Río. However, the country and Pemex ‘celebrate’ this anniversary in the midst of a difficult operational and financial crisis.
CEO Octavio Romero and President Andrés Manuel López Obrador (AMLO) spoke about their plans to increase Pemex’s performance during 2019.
Pemex has reported poor operational metrics in the refining sector, especially in fuel production. In addition, Andres Manuel Lopez Obrador (AMLO), President of Mexico, decided to close Pemex pipelines as a strategy to reduce fuel theft in Mexico. This situation affected The NOC’s revenues and sales in the first month of 2019.
President Andres Manuel Lopez Obrador (AMLO) said that his refinery plan in Tabasco is “going well,” but industry experts explain why investing in E&P might be a better choice for Mexico.
Cuauhtemoc Cárdenas Solorzano, former presidential candidate, spoke about the oil sector and its relevance to the country’s economy in a conference at the National Autonomous University of Mexico (UNAM).
In weekly his morning conference, President Andrés Manuel López Obrador (AMLO) said that he does not rule out Pemex’s participation in Mexican Stock Exchange (BMV).
President Andrés Manuel López Obrador (AMLO) continues to review the contracts Pemex signed with companies. Here is what has happened so far.
The National Hydrocarbons Commission (CNH) announced that two of Pemex’s farm-outs; the Cárdenas-Mora and Ogarrio fields (Tabasco), already have approved development plans.
The NOC will have an important Capex budget for this year, but industry experts say the firm will need almost twice as much investment to recover its metrics.
Pemex reported that it will start developing 20 new areas this year, as part of President Andres Manuel Lopez Obrador’s (AMLO) strategy to ‘save’ the NOC from its crisis.
2019, Hydrocarbons Mexico, All Rights Reserved.
