Pemex is facing tough times in almost all its business areas. Pemex aims to focus on oil production and leave the other businesses to private investors. José Antonio González Anaya, CEO of Pemex, talked about this issue.
Pemex keeps showing no signs of recovery in its production metrics, and recent natural disasters aggravated the situation. The NOC published its preliminary extraction figures for September and these continue to decrease, this time at an even faster rate.
Pemex keeps reporting red numbers in almost all its operational metrics; it seems like the company is justifying itself saying that it will focus on oil. Pemex propane production and imports are very low to meet local demand, leaving a big opportunity for other companies.
Pemex’s lack of capacity to produce gas opened many business opportunities for other companies and the country could continue to increase its dependence on imports. The National Center for Natural Gas Control (Cenegas) published its views on the gas market.
An Op-Ed by Jonathan Ruiz, Carlos Rodriguez, Juan Spinetto and Adam Williams says that after the enactment of Energy Reform, the NOC’s ex-directors have not been made part of the new players that have bet on Mexico.
Mexico has problems in its oil production, especially because of Pemex’s difficult situation. However, the success of the past oil rounds has generated many expectations about a recovery in this issue. The Ministry of Finance and Public Credit (SHCP) published its forecast of non-Pemex production.