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Eye on Pemex

CNH talks Pemex farm-outs

The National Hydrocarbons Commission (CNH) announced that two of Pemex’s farm-outs; the Cárdenas-Mora and Ogarrio fields (Tabasco), already have approved development plans.

 

Thursday, March 7th, 2019
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Will it be enough?

The NOC will have an important Capex budget for this year, but industry experts say the firm will need almost twice as much investment to recover its metrics.

 

Wednesday, March 6th, 2019
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Pemex’s plans for 2019

Pemex reported that it will start developing 20 new areas this year, as part of President Andres Manuel Lopez Obrador’s (AMLO) strategy to ‘save’ the NOC from its crisis.

 

Tuesday, March 5th, 2019
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Pension funds to invest in Pemex?

Pemex does not have the necessary budget to solve its financial and operational crisis, but the government is analyzing different alternatives to help the NOC. Pension fund administrators (Afores) could play a key role in this process.

 

Tuesday, March 5th, 2019
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Pemex, the most indebted oil company

Pemex, the most indebted oil company

Pemex has been reporting a constant declining production over the last decade, but this has not been its only problem. The NOC has faced several issues such as wasteful spending, a high tax burden and a huge debt.

Monday, March 4th, 2019
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Pemex results in 4Q18

Pemex results in 4Q18

Pemex announced its financial and operational results for the fourth quarter and year ended 2018, highlighting positive performance in key metrics such as EBITDA, operating income and total sales. The company continues to report a net loss, but it decreased compared to previous year.

Thursday, February 28th, 2019
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Pemex auctions

Andres Manuel Lopez Obrador (AMLO), President of Mexico, continues to announce measures to solve the financial and operational crisis of Pemex. Octavio Romero Oropeza, CEO of Pemex, spoke about the awarding of new oil contracts.

Wednesday, February 27th, 2019
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PEP, in Technical bankruptcy?

The Superior Auditor of the Federation (ASF), David Colmenares, spoke about the financial situation of Pemex Exploracion y Producccion (PEP) and Pemex Transformacion Industrial (PTI).

Monday, February 25th, 2019
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Pemex workforce to increase

Pemex continues to report poor operational metrics, affecting its financial situation. However, the company continues to maintain a costly workforce, and plans to spend more on this issue, despite the current crisis.

Monday, February 25th, 2019
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Controls on fuel imports

Controls on fuel imports

Mexico has increased its dependence on refined-products imports in recent years, due to Pemex operational problems, especially in its refineries. The Secretary of Energy (Sener) is analyzing alternatives to increase controls on imports.

Wednesday, February 20th, 2019
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