The Mexican government started the process of liberalizing gasoline prices this year. Officials argued that it would benefit the final consumer mainly, but Pemex has been the winner, at least in terms of revenues.
Oil rounds have attracted international companies to Mexico and there are many projects to carry out around the country. Mexican States and municipalities are working to bring investments to their territories. Alma Laura Amparán Cruz, Mayor of Altamira talked about this topic.
The past tender was a success for Mexico and authorities are expecting positive results from the agreements signed. Pemex won two blocks and it hopes that these projects will help to recover deteriorating results.
Pemex is facing difficult times in many metrics. Its gas production has been decreasing in recent years and the outlook is negative for coming years. Pemex was present at the Mexican oil congress 2017 and talked about this issue.
Pemex is implementing a strategy of partnerships with private companies to boost the development of the sector and begin to recover its financial and operational metrics. AkzoNobel is interested in working with the NOC.
Mexico’s oil industry is facing a challenging moment at present. The Federal Government created many structural reforms to boost the sector, but the country needs positive exploration news to reduce concern about sustainability.