The government created the Mexican Petroleum Fund for Stabilization and Development (FMPED) three years ago with great expectations. The FMPED reported its revenues during 2018 and it exceeded the established income target for second year in a row.
Energy Reform was created with the goal of increasing production and reserves metrics in Mexico and private companies continue to give good news on these issues. Fieldwood Energy and Petrobal announced a new mega discovery.
Pemex had to import light crude in recent months and send it to the National Refining System (SNR) due to its operational crisis. The NOC chose this route despite AMLO’s antipathy, because there was no alternative.