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Eye on Pemex

Number of working Pemex rigs is the lowest in two decades

Number of working Pemex rigs is the lowest in two decades

Pemex reported a historical low number of working rigs during 1Q17. Last year figures were bad, but were worse in the first quarter of 2017. Budget cuts and low oil prices are the main reasons for this critical situation.

Thursday, May 18th, 2017
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Oxxo Gas and Petro 7 about oil theft

The companies are evaluating supply alternatives to avoid costs associated with this crime when they work with Pemex.

Thursday, May 18th, 2017
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Pemex trade balance still negative

Pemex trade balance still negative

The NOC reported its results for 1Q17. Despite good financial performance, the company is still showing red numbers in production and international commerce. This time we will analyze the Pemex trade balance.

Thursday, May 18th, 2017
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Pemex refining production dropped again

Pemex refining production dropped again

The NOC reported a new decline in its refining production in 1Q17 compared same period last year. The positive side is that it increased compared to previous quarter. The Salina Cruz refinery is the most important in terms production.

Tuesday, May 16th, 2017
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Pemex will not be alone at the Gas Station Convention

For the first time, the Gas Station Convention will receive and organize gas station owners and fuel suppliers other than those from the Pemex franchise, which used to be the only supplier of the automotive and industrial fuel market in Mexico.

Monday, May 15th, 2017
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Pemex sued for alleged abandonment of its facilities in Tabasco

Tabasco’s Lawyers Association said that Pemex abandoned more than 1,000 of its facilities in the state, and that represents a risk to the communities in its area of influence.

Thursday, May 11th, 2017
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Pemex the big winner in pipeline bidding

Pemex the big winner in pipeline bidding

Pemex Transformación Industrial (Pemex TRI) took part in the first auction to use the infrastructure of the National System Gas (Sistrangas) and the company won more than half of current capacity.

Wednesday, May 10th, 2017
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Pemex oil exports drop but increase to US

Pemex oil exports drop but increase to US

The Company reported a new reduction in its oil exports. Far East is positioning itself as an important destination for Mexican crude. The United States continuesas the main buyer and it increased its participation in the pie.

Tuesday, May 9th, 2017
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Pemex production keeps falling

Pemex production keeps falling

The oil company reported a new drop in its oil production, despite positive financial results. Pemex has focused in improving its economic situation, but in production terms the situation is difficult.

Monday, May 8th, 2017
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“We will develop most of the fields the government gave us”: Pemex

Pemex plans to develop most of the 120 oil fields that the government granted it, returning “only a very low percentage,” according to the company’s executive chief.

Monday, May 8th, 2017
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