Pemex reported oil exports figures for May and these had a good performance compared to last year. The United States remains as the principal destination for Mexican crude, and the Far East continues in second place, reporting a considerable increase.
Pemex continues to report oil production below 2,000mbd, and the bad trend continues, as this metric decreased compared to previous month. The company published extraction figures for May and the firm will find it even harder to achieve its targets.
To absolutely no one’s surprise, Andrés Manuel López Obrador (AMLO) won yesterday’s Mexican Presidential elections decisively. The other candidates conceded even before the count started, based on exit polls. He gave two victory speeches last night, one to the press and one to his supporters. We stayed up and watched them both and have a brief summary of the key messages.
Pemex reported its production for May, and it continues to show poor performance, increasing dependence on imports. The National Chamber of Cargo Transport (Canacar) spoke about the main concerns of fuel transporters.
Pemex plans to import light crude due to its low production performance, arguing that this would help improve its refining metrics. This has generated several discussions about the consequences of this alternative.