Pemex’s operational crisis has forced it to increase imports to serve the local market, affecting its finances. This has led to a substantial increase in Pemex’s deficit, but the firm has a plan to reduce it and has set a challenging goal for 2018.
Pemex continues to report poor production metrics, aggravating the crisis in the sector. The NOC reported natural gas production metrics for July, showing a slight recovery compared to previous month, but insufficient to solve the current crisis.
Pemex is facing a difficult financial and operational situation at present, but not all the news are bad for the company. The firm reported that a block in Veracruz is performing well in production terms.
Pemex is facing a difficult operational and financial situation and the government created Energy Reform to help the NOC, but it has not been enough. The Secretariat of Finance and Credit Public (SHCP) made a proposal to reduce Pemex obligations and thus help the company to overcome its crisis.
Pemex has reported several problems in its refiners, increasing its dependence on fuel imports to supply the Mexican market. Justo Fernández Chedraui, President of the Association of Service Stations of the East, spoke about the gasoline market and the NOC.