Andres Manuel Lopez Obrador (AMLO) expressed his rejection of Pemex’s decision to import light crude, when he was a presidential candidate. However, AMLO began its term as president in December 2018, and the NOC continued to import oil.
Andres Manuel Lopez Obrador (AMLO) promised to reduce fuel prices in Mexico and these reported a slight drop in his first month as president. However, analysts consider it unlikely that this trend will continue during his administration.
Pemex reported its trade balance for November 2018 and this metric stays in the red without a clear solution in the short and medium term. The company has poor operational metrics, forcing it to keep high import levels to supply local demand.
Pemex has been facing a difficult operational and financial crisis during recent years. However, the NOC is optimistic about its future, specially in natural gas. Octavio Romero Oropeza, CEO of Pemex, talked about natural gas output for the next six years.