Pemex published extraction figures for February 2019, and the firm started to recover some lost ground in this important metric, compared to previous month. Octavio Romero Oropeza, CEO of Pemex, showed his optimism about the company’s performance in coming months.
Andres Manuel Lopez Obrador (AMLO) plans to recover the metrics of the energy sector quickly, and the Secretary of Energy (Sener) announced a plan for the refining sector with challenging goals. This strategy could create a dilemma between exporting oil and refining.
Rocio Nahle, Secretary of Energy (Sener), spoke about relevant issues to the energy sector such as production, oil contracts, regulation and fracking. She pointed out the role of oil contracts signed in previous rounds to increase production.
The National Hydrocarbons Commission (CNH) reported private (non-Pemex) oil production in December 2018. The companies have been producing for a two years and a half in the country and current figures represent a small portion compared to Pemex metrics, but they have increased considerably in recent months.
Pemex published extraction figures for January 2019, and this important metric began the year on the wrong foot. The NOC reported its lowest production in the last 40 years and its heavy oil extraction is below 1,000mbd.
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.
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.