The Mexican government has announced several measures to help Pemex, starting with a lower tax burden. However, it seems like this will not happen in priority fields.
Higher gasoline prices increased Pemex’s revenues, but the NOC keeps paying more for imports. The development of these and more stories in our periodic Retail summary.
Fuel and oil theft have affected the performance of the Mexican oil sector. Pemex and the Attorney General’s Office (FGR) disagree on how big the problem really is.
This is how the Ministry of Finance and Public Credit (SHCP) is working to boost Pemex’s production.
Pemex wants to change the negative trend in its oil production as soon as possible, and expectations are focused in 20 priority fields. The National Hydrocarbons Commission (CNH) ruled on the development plan for two of these areas.
The government was heavily criticized after presenting Pemex’s Business Plan. The National Hydrocarbons Commission (CNH), however, announced important upcoming investments.
Mexico’s Security, Energy and Environmental Agency (ASEA) granted Pemex a license to develop the Dos Bocas refinery, so long as the firm complies with these requirements. The development of these and more stories in our periodic Eco summary.
Andrés Manuel López Obrador (AMLO), President of Mexico, has rejected Energy Reform and the oil rounds. He criticized the contracts signed in past auctions, but his government is benefiting from these processes.
The National Hydrocarbons Commission (CNH) confirmed that the NOC will receive 64 additional exploration assignments.
Pemex announced the development of 22 oil fields over the coming years as the main strategy to reverse the downward tendency in its oil production. The NOC has high expectations in these areas for the short term.
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