The production of private oil companies reached the highest level since it has been measured; Wintershall Dea increases investment in Ogarrio, Fitch Ratings warns private investors have lost trust in Mexico
Pemex was forced to import more fuel to cover for a 25% drop in output in April; AMLO assures the NOC will produce no more than 2Mbd; Roma Energy gets an exploratory well approved by the CNH
Production of crude and equivalent stayed nearly even in April 2021, Mexican judges also strike down AMLO re-monopolization of Pemex fuel distribution; A noted drop in fuel robbery reported by the NOC.
AMLO signed the Hydrocarbons Law into effect in May, only to have it halted by the judicial system. The Mexican President promises a Supreme Court showdown, and his bet on buying out Shell at the Deer Park Refinery in Texas has many questioning the financial implications.
Lots of reactions to AMLO’s announcement that Pemex will buy the Deer Park refinery, few are positive, and changes to the fuel industry regulation and structure puts MXN 20B of private investment at risk.
Hokchi Energy received approval for its work plan from the CNH, Pemex will invest up to US$ 40M in the Soledad assignment, AMLO and Romero claim Pemex became a cash cow for private companies under past administrations