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.
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.