Pemex continues to show negative results and there is no a real solution to it. Even so, Mexican authorities believe that the firm does not need more help.
Mexico should strength fiscal sustainability and a path to achieve this, is to increase revenues through a tax reform, World Bank recommend it. In this way, the country could replace oil revenues that have fallen by low prices.
Juan Carlos Zepeda, President of the National Hydrocarbons Commission (CNH), authorized Pemex to conduct exploration activities in five unconventional reservoirs, through the technique of hydraulic fracturing.
The Mexican Government will pay part of Pemex investments made in selected areas. Those zones are going to be tender. According to a report in Expansion, the government would pay US$268M.
The country will invest more than US$400M in renewable energies, according to Minister of Energy Pedro Joaquín Coldwell. Investments will focus particularly on solar energy. Guanajuato is the Mexican State is the most benefited.
For some experts the Reform´s achievements in such a short time, with an oil crisis in the middle, is positive. But others analysts think the reform did not produce the promised short-term effects.
The Agency for Safety, Energy and Environment (ASEA) and the Bureau Ocean Energy Management (BOEM) signed a letter of intent to strengthen “cooperation, coordination and information exchange on environmental issues related to hydrocarbon activities offshore in the Gulf of Mexico”, according to a press release.
The country has great potential to reduce greenhouse gases. But Mexican authorities must create more public policies. Mexico could reduce up to 50% methane content in oil and natural gas, according to Terra.