Pemex announced its financial and operational results for the first quarter of the year, highlighting that the firm has started recovering key metrics in 2018. The firm expects to consolidate its alliance and farm-out strategy this year.
Pemex has been reporting declines in its oil production during several years, but the company hopes to overcome this slump as soon as possible. Javier Hinajosa Puebla, General Director of Pemex Exploration and Production (PEP) spoke about the NOC production prospects.
The main strategy of Pemex is to sign alliances with several companies around the world to recover its operational and financial metrics. Carlos Treviño, CEO of Pemex, announced several meetings with heavyweights to strengthen the company’s relations.
The liberalization of the gasoline retailing industry began a year ago, attracting the interest of large companies to this market. These have announced their plans and strategies, but Pemex does not want to be left behind on this issue.
Mexico has talked a lot about the future of the jet fuel industry recently. There could be great changes in the industry, thanks to Pemex’s operational problems. Mexican authorities are working on new regulation for the industry.