According to the United States Environmental Safety and Compliance Bureau (BSEE), as a result of the ‘Harvey’ hurricane, 86 oil and gas platforms in the Gulf of Mexicohave been evacuated.
The NOC’s new strategy to meet its 2017-2021 business plan is based on increasing gasoline and diesel production, so it will develop a major maintenance routine at its refinery in Ciudad Madero.
The Ministry of Finance and Public Credit (SHCP) announced fiscal measures to boost the oil sector, benefiting Pemex and its partners.
The Rating Agencies spoke on the implications that the government’s heavy fiscal burden has on Pemex.
The Mexican government granted several blocks in Round Zero to Pemex to guarantee that the company continued to be the main player in the oil sector after Energy Reform. The company also acquired goals for these blocks but the firm has failed to meet most of them.
Mexico needs lighter oil to increase processing and distillation levels at a number of plants that are struggling to increase their profitability, said Pemex Industrial Transformation Manager Carlos Murrieta.
Pemex has had low operating and financial revenues in recent years. The Mexican government created Energy Reform to help recover the company’s metrics and boost the Mexican oil sector. Pemex is very optimistic about its financial performance for the coming years.
The Secretary of Energy (Sener) reported exploration and development wells drilled figures during second quarter of this year. This metric showed a rise compared to the prior quarter, but current figures are low, compared to previous years.
Pemex has been unable to stabilize its gas production in the country and imports have gained share to supply local demand. Non-associated gas production is falling swiftly and associated gas as well, but more slowly.
Pemex announced that it is looking for business opportunities in different Latin American countries to diversify its exploration portfolio by 2021.
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