Energy Reform created several entities to ease the sector’s growth and the process of change in the country. The Mexican Petroleum Fund for Stabilization and Development (FMP) is one of these new entities and this has a very important role for the industry.
For the first time, the Gas Station Convention will receive and organize gas station owners and fuel suppliers other than those from the Pemex franchise, which used to be the only supplier of the automotive and industrial fuel market in Mexico.
Illegal actions against the industry are growing in Mexico generating a great cost for Pemex.
According to a report in El Universal, the NOC reported 1,646 clandestine taps to its pipelines during January and February of this year.
The deal would give Exxon (NYSE: XOM) access to oil and infrastructure fields in Brazil, while allowing Petrobras (BVMF: PETR4) to benefit from Exxon’s experience in production, refining and distribution processes.