August has been a succession of events that depict the declining state of Pemex from its operations to its finances, from accidents to supplier and lender debt; AMLO’s other energy target Gas Bienestar is now approved and starting its first deliveries.
The fatal accident and explosion on an oil platform of Pemex will have a big impact on its production figures in the short term; Valero expands with a fuel terminal; Pemex gets approval for changes to its Uchukil exploration program
Hokchi Energy inaugurates a new processing plant in its namesake field and looks to grow production through 2023; Despite rumors it had been cancelled, IEnova confirms its plans to build a fuel storage terminal Colima is still on track; Pemex suffers a fatal accident in the Campeche sound.
Russia’s Lukoil started drilling of an exploration well in Block 12; A court has granted an injunction to allow a private company to continue to import fuels; Pemex’s covid cases continue to grow.
In July the impact of AMLO’s reshaping of Mexican regulators and disdain for established legal precedents was in full display with Pemex receiving the Zama discovery, cancelled fuel import permits and now a state run LNG distributor.
The number of illegal interventions in Pemex’s fuel pipelines grew through April; Pemex gasoline production also grew in May; Pemex and the Mexican Petroleum Institute work on a joint project for transportation fuels.
AMLO says once an election in the Pemex workers’ union occurs there will be a review of its collective contract; ENI will invest nearly US$ 30M into an offshore exploratory well; AMLO says the Salina Cruz refinery has been a target of sabotage.
Sener says it will comply with a judicial order to suspend parts of AMLO’s hydrocarbons law, but plans to fight it, an analysis suggests Pemex’s business plan is a major limiting factor and outdated IT is a risk for Pemex.
The NOC still not paying its bills; Pemex investing US$437M for three blocks; and Pemex looking for retired military personnel
Gas self-sufficiency is AMLO’s fantasy; Pemex is nice to do business with. Really. ; and An inside job.
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