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.
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.
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.
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.
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.
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.
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.