The National Hydrocarbons Commission (CNH) recently published total hydrocarbons reserves during 2018. As expected, these decreased, and there is no possible solution for the short or medium term.
Recent investigations show that Mexico’s oil producing regions have the highest rates of poverty and violence levels. Here is why.
The National Hydrocarbons Commission (CNH) approved an agreement between PC Carigali (subsidiary of Petronas) and China Offshore Oil Corporation (NYSE: CEO) on a block awarded in Round 1.4.
Pemex reported its trade balance for December 2018 and this metric stays in the red without a clear solution in the short or medium term. The company has poor operational metrics, forcing it to maintain high import levels to supply local demand. Rocio Nahle, Secretary of Energy (Sener), spoke about this issue.
Pemex published extraction figures for December 2018, achieving a slight increase compared to previous month However, the NOC’s production decreased compared to December 2017.
Mexico is looking for alternatives to increase oil production in the next six years and the Mexican Association of Hydrocarbon Companies (Amexhi) made an interesting production commitment with the government.
The NOC chose to invite companies to perform drilling activities in the Gulf of Mexico, as part of its plan to reactivate production metrics.
Pemex metrics continues to fall in terms of production, and there is no solution at least for the short term. In fact, bad news keeps appearing for Pemex, as its main asset Ku-Maloob-Zaap is reporting even less production.
Andres Manuel Lopez Obrador (AMLO) decided to cancel indefinitely new oil rounds in Mexico, arguing that this has not generated positive results for the country. However, the National Hydrocarbons Commission (CNH) reported the production of the oil contracts from past rounds, with positive results.
Andrés Manuel López Obrador (AMLO) is determined to recover Pemex production as soon as possible. He announced a new drilling program to increase this metric and expectations are high.
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