Veracruz has been one of the most affected States by low oil prices. The zone is facing an economic crisis because of this. The mayors of municipalities argue that the situation has been tougher due to the Veracruz State government´s irresponsibility.
Omar Ricárdez Chong, Mayor of Moloacán, wants to move oil-workers from Villa Cuichapa next December. On this date, the Oil-Company Lifting will start operating. The firm has a contract to drill for the next thirty years.
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.