The steel company Tenaris announced its operational and financial results for the second quarter of 2019. The company reported increased revenues thanks to Pemex’s new strategy of offering service contracts and to Energy Reform.
Energy Reform allowed the entry of new competitors to the Mexican energy market, through free competition. Several brands announced their plans for the gasoline sector and the results have been satisfactory, while Pemex has lagged behind in this new scenario.
Pemex and President Lopez Obrador signed the Mexican Republic Oil Workers Union’s (STPRM) new Collective Labor Agreement, leaving a bitter sweet feeling among Mexicans. These and other stories in our periodic summary of labor-related issues.
Energy Reform allowed the entry of new players to the Mexican oil sector, but authorities awarded the best areas to Pemex in Round Zero anyway. The NOC promised to make large investments in these blocks, but the time is running out to achieve them.