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.
Theft is one of the main problems that affects Pemex performance. The number of clandestine taps has increased considerably in recent years, but the NOC made a controversial decision about the information on this problem.
Pemex refining crisis is getting worse every day, as the company keeps reporting poor metrics. The company reported its fuel production during February and that of premium fuel is practically at zero.
The country is analyzing different markets to diversify its oil exports. The instability of its commercial relations with the United States and the production increase in that country, have forced a market diversification strategy.