MEXICO CITY, MEXICO (Pietro D. Pitts, Energy Analytics Institute, 3.Dec.2024) — The recent election of Morena Party’s Claudia Sheinbaum Pardo to serve as Mexico’s president from 2024-2030 translates into continuity of the so-called Fourth Transformation started by former president Andrés Manuel López Obrador (AMLO). AMLO, who founded the Morena Party, […]
Tag: AMLO
CFE Eyes Investments of $23.4bn between 2024-2030
MEXICO CITY, MEXICO (Fidencio Casillas, Energy Analytics Institute, 6.Nov.2024) — Mexico’s Federal Electricity Commission (CFE) has its eyes set on a historic investment of $23.4bn between 2024-2030, according to the state-owned agency’s head Emilia Esther Calleja. The details were reveal 6 Nov. 2024 by Esther her participation in an early morning […]
Pemex Looks to Boost Reserves During Sheinbaum Presidency
(Reuters, 23.Oct.2024) — Mexican state oil company Pemex aims to increase its hydrocarbon reserves and ensure their restitution during the government of new President Claudia Sheinbaum, according to an internal Pemex document seen by Reuters on Wednesday. It will also intensify deepwater exploration and develop new business models to attract […]
Sheinbaum Keeps Morning Briefings, Though her Style is Unlike AMLO’s
(AP, 2.Oct.2024) — Mexico’s new President Claudia Sheinbaum started her day Wednesday much like her political mentor, ex-President Andrés Manuel López Obrador, began most of his: with an early morning news briefing from the National Palace. López Obrador’s news briefings, known as the “mañaneras,” were marathon affairs, featuring folksy dialogue, […]
Pemex Posts Drop in Oil Output as AMLO Exits
(Reuters, 27.Sep.2024) — Crude output by Pemex fell in August as Mexico’s national oil company failed to reduce fuel imports in line with company targets, while overall falling well short of the lofty energy trade goals of the country’s outgoing president. While locally produced petroleum product volumes rose during the […]
Mexican Elite Shun Lawmakers Who Advanced AMLO’s Judicial Reform
(Bloomberg, 18.Sep.2024) — Alejandra Chedraui was once part of Mexico City’s smart set, her wedding photos and family portraits appearing regularly in local newspapers’ society pages. Last week, she became a pariah. The reason: She was one of the lawmakers who voted for President Andres Manuel Lopez Obrador’s overhaul of Mexico’s judicial […]
AMLO Says North American Economic Integration Important
(Energy Analytics Institute, 26.Aug.2024) — Mexico’s President Andrés Manuel López Obrador said that the reality is that the economic integration between Mexico, U.S. and Canada was is so important that it was impossible to break it. López Obrador, also known as AMLO, made the statements on 26 Aug. 2024 during […]
Experts Call for ‘Serious’ Debate About Fracking in Mexico
(S&P, 16.Jul.2024) — Given the large amount of unconventional hydrocarbon resources found in Mexico and how much fracking technology has advanced, the country cannot afford to neglect their exploitation without a serious debate, experts said at an energy forum held at the Mexican Senate. According to data from the National Hydrocarbons […]
Mexico Elects Claudia Sheinbaum as its First Female President
(AP, 3.Jun.2024) — Mexico’s projected presidential winner Claudia Sheinbaum will become the first female president in the country’s 200-year history. Sheinbaum, the favored successor of outgoing President Andrés Manuel López Obrador, vowed to continue on the direction set by the populist leftist leader. But the cool-tempered scientist offers a sharp contrast in style […]
A Scientist, a Leftist and a Former Mexico City Mayor. Who is Claudia Sheinbaum?
(AP, 3.Jun.2024) — Claudia Sheinbaum, who will be Mexico’s first woman leader in the nation’s more than 200 years of independence, captured the presidency by promising continuity. The 61-year-old former Mexico City mayor and lifelong leftist ran a disciplined campaign capitalizing on her predecessor’s popularity before emerging victorious in Sunday’s vote, according to an official […]
Mexico’s Presidential Front-runner Walks a Thin, Tense Line
(AP, 22.May.2024) — As she runs to replace outgoing President Andrés Manuel López Obrador, Claudia Sheinbaum is struggling to construct her own image, leaving many wondering whether she can escape the shadow of the larger-than-life incumbent. The former Mexico City mayor and frontrunner in the June 2 presidential election has had […]
AMLO’s ‘Dream’ Pemex Refinery Hits Another Delay
(Reuters, 17.May.2024) — Mexican state energy company Pemex started sending 16,300 barrels per day (bpd) of crude oil to its new Olmeca refinery this week, less than 5% of its total capacity, internal data seen by Reuters showed, signaling another delay. President Andres Manuel Lopez Obrador had built hugely ambitious infrastructure project in his […]
Interest Remains in Mexico’s Oil and Gas
(S&P, 15.May.2024) — There is still a lot of private and international interest in developing the oil and natural gas resources in Mexico despite the shift towards state control by President Andres Manuel Lopez Obrador, panelists said during an energy and infrastructure forum May 14-15. However, if Mexico again opened […]
Pemex to Remain A Fiscal Challenge for Next President of Mexico
(S&P Global Ratings, 15.Apr.2024) — Mexico’s relationship with state-owned oil giant Pemex will remain a fiscal challenge for the country’s next presidential administration, said S&P Global Ratings in “Pemex Will Remain A Fiscal Challenge For Mexico’s Next President.” The national elections in June encompass the presidency and both chambers of […]
Mexico’s President Says he Won’t Seek an Unconstitutional Second Term
(NPR, 3.Feb.2023) — President Andrés Manuel López Obrador is still immensely popular in Mexico. Across the country you’ll find graffiti and placards that say “Que siga el presidente” (Let the president continue.) In Mexico, there has been a lot of handwringing over the undemocratic tendencies of President Andrés Manuel López […]
Mexico Closer to Striking a Deal over Major Offshore Oil Find
(Reuters, 3.Jun.2022) — The Mexican government is close to reaching a deal with U.S.-based Talos Energy over the future of a potentially lucrative shared crude discovery, the president said on Friday. The handling of Zama, a deposit holding some 900 million barrels and located offshore in the southern Gulf of […]
Mexico Opposition Party Pitches Free Solar Panels for Housing
(Reuters, 1.May.2022) — Mexico’s biggest opposition party on Sunday proposed installing solar panels for free onto residential housing, staking out its renewable energy credentials as it seeks to challenge the ruling party of President Andres Manuel Lopez Obrador. Marko Cortes, leader of the center-right National Action Party (PAN), said the […]
Back to Mexico’s Statist Energy Future
(Forbes, 28.Apr.2022) — An ambitious effort to definitely steer Mexico back to a statist energy future was narrowly defeated this last week, leaving its energy sector still officially open to the private sector but largely unattractive to all but the most speculative investors. More than half of Mexico’s lower chamber […]
Mexico President López Obrador Wins Recall Referendum
(The Guardian, 10.Apr.2022) — Nine in 10 Mexicans voting in an unprecedented recall election engineered by President Andrés Manuel López Obrador have backed him to stay in office, underlining his domination of a polarised political agenda. Critics and supporters had viewed his victory as a foregone conclusion in a ballot […]
Pemex Back In Red Despite Oil Production Uptick
(Reuters, 28.Oct.2021) — Higher tax payments and foreign exchange losses pushed Mexico’s Petroleos Mexicanos back into the red in the third quarter, even as crude production recovered somewhat, the state oil company said on Thursday. Pemex lost 62.8 billion pesos ($3 billion) compared to a profit of 1.4 billion pesos […]
Mexico Unveils Investment Plan Worth Nearly $14 bln
(Reuters, 5.Oct.2020) — Mexico’s government and business leaders on Monday presented a series of planned investments worth over 297 billion pesos ($13.83 billion) which President Andres Manuel Lopez Obrador hopes will help to lift the country’s misfiring economy. Ranging from highways, to a train line connecting Mexico City with the […]
Mexico’s Lopez Wants Plan To Execute Energy Vision
(Reuters, 11.Aug.2020) — Mexico’s president has given officials until late September to craft a plan to reassert state control over the energy industry as an alternative to constitutional change to achieve the same goals, according to three people familiar with the matter. President Andres Manuel Lopez Obrador on July 22 […]
Mexico To Launch World’s Largest Oil Hedge – Sources
(Reuters, 24.Jul.2020) — Mexico has asked top Wall Street banks to submit quotes for its giant oil hedging program, sources familiar with the matter said on Friday, while trading in crude oil options has increased this week ahead of the megadeal. The finance ministry has asked banks for price quotes, […]
Mexico’s Lopez Says He’d Sell Fuel To Venezuela
(Reuters, 15.Jun.2020) — Mexican President Andres Manuel Lopez Obrador said on Monday his country would, for “humanitarian” reasons, sell gasoline to Venezuela if asked to do so, despite a raft of U.S. sanctions imposed on the South American country and its state-run oil company, PDVSA. Lopez Obrador added he had […]
OPEC+ To Meet Saturday On Extending Cuts
(Reuters, 5.Jun.2020) — OPEC and its allies led by Russia will meet on Saturday to discuss extending record oil production cuts and to push laggards such as Iraq and Nigeria to comply with existing curbs. The producers known as OPEC+ previously agreed to cut supply by 9.7 million barrels per […]
Mexico To Remain In Opec+, No Output Cuts Planned
(Argus, 22.May.2020) — Mexico will remain within the Opec + group but has no plans for further production cuts, the energy ministry told Argus today. “Mexico will participate in the Opec + meeting in June but we do not contemplate implementing more cuts,” the ministry said. “There are no plans […]
Pemex Posts Massive $23.6bn 1Q:20 Loss
(Reuters,30.Apr.2020) — Mexican state oil company Pemex on Thursday said it had posted a $23.6 billion (562.13 billion peso) loss in the first quarter due to falling crude prices as well as a sharp drop in the value of the peso during the first three months of the year. The […]
Pemex To Prioritize Lower-cost Production
(Reuters, 27.Apr.2020) — Mexico’s state oil firm Pemex on Monday detailed measures aimed at mitigating the effects of a steep drop in oil prices, saying it would prioritize lower-cost production that would allow the government to comply with its “international commitments.” Petroleos Mexicanos, as the firm is formally known, detailed […]
Mexican Oil Platforms Cut Staff Over Coronavirus
(Reuters, 26.Apr.2020) — Mexico has begun removing staff from Gulf of Mexico oil platforms to limit the spread of the coronavirus, leaving essential personnel on board, state oil firm Petroleos Mexicanos (Pemex) said on Sunday. Pemex said in a statement that workers had started coming off the rigs as Mexico […]
Why Mexico’s Oil Industry Is Destined For Disaster
(Oilprice.com, 25.Apr.2020) — Mexico has somewhat inadvertently found itself at the heart of the oil industry’s most burning issues of 2020 – just when it seemed that Russia, Saudi Arabia, the United States and a whole array of prominent oil-producing countries reached an agreement on future OPEC+ production cuts, the […]
Pemex Declares Force Majeure On Fuel Imports
(Reuters, 23.Apr.2020) — Mexican state oil company Pemex has declared force majeure over fuel imports from its trading arm PMI Comercio Internacional, two sources with knowledge of the decision said Thursday, as demand craters due to fallout from the coronavirus pandemic. Many gasoline and diesel importers around the world have […]
Pemex’s Trading Arm Declares Force Majeure
(Bloomberg, 23.Apr.2020) — Mexico, the largest recipient of U.S. gasoline exports, is seeking to cancel imports of the fuel from at least one U.S. company amid the rippling effects of the coronavirus on demand. Petroleos Mexicanos’s trading unit, PMI, declared force majeure on imports of gasoline as an armada of […]
Mexico Announces Emergency $25.5bn Package
(S&P Global Platts, 22.Apr.2020) — Mexico announced a Peso 622.56 billion ($25.5 billion) package on Wednesday that will help the nation face the economic consequences of the coronavirus pandemic, with the focus on Pemex, the state-controlled oil firm. The emergency budget will be aimed at 38 priority projects of the […]
Mexico’s New Oil Regulator Says Pemex JVs Likely
(Reuters, 16.Apr.2020) — The head of Mexico’s powerful oil regulator said state oil firm Pemex could seek new joint venture partnerships soon, despite President Andres Manuel Lopez Obrador’s decision to freeze the so-called “farm-outs” in his first year in office. “I think it will happen during this government,” Rogelio Hernandez, […]
The Unexpected Holdout To A Global Oil Production Deal
(Bloomberg, 10.Apr.2020) — One of the most dramatic global oil production agreements in history has been left hanging on the approval of an unlikely character: Mexican President Andres Manuel Lopez Obrador. For weeks Russia and Saudi Arabia, two energy powerhouses, have been sparring over oil, with their dispute sending crude […]
Pemex Not In Position To Maintain Output
(GlobalData, 10.Apr.2020) — Following today’s news (Friday 10 April) that the OPEC+ agreement, which will cut production by ten million barrels, is contingent on Mexico’s consent to also cutting production; Adrian Lara, Senior Oil & Gas Analyst at GlobalData, a leading data and analytics company, offers his view on the […]
Mexico’s Oil Hedge Just Saved Its Economy
(Oilprice.com, 11.Mar.2020) — Petroleos Mexicanos has been in an unrelenting downward spiral for decades. Pemex, Mexico’s state-owned oil company, has seen a vast and speedy decline of its production rates for the last 15 years, and at times it has vied for position as the most indebted oil company in […]
Nations Meet to Discuss Mexico Energy Concerns
(Reuters, 9.Mar.2020) — The United States, the European Union, Canada and six European nations have held joint talks on concerns over Mexico’s energy policy, sources told Reuters, as President Andres Manuel Lopez Obrador pushes for a bigger role for the state in the sector. The unusually broad diplomatic encounter is […]
Oil Price Plunge Ramps Up Pressure On Pemex
(Reuters, 9.Mar.2020) — A crash in crude prices has intensified pressure on the finances of Mexican state oil firm Petroleos Mexicanos (Pemex), which is facing the threat of a ratings downgrade after posting one of its worst-ever losses last year. Mexican President Andres Manuel Lopez Obrador took office 15 months […]
AMLO Says New Energy Plan Could Be Ready In March
(Reuters, 5.Mar.2020) — Mexico’s President Andres Manuel Lopez Obrador said on Thursday the country’s new energy plan could be ready within 10 days, and the government was analysing proposals by the private sector for joint energy investments. Mexico has pursued a more state-led approach to the energy sector under Lopez […]
Pena Nieto Investigated In Corruption Probe
(Reuters, 19.Feb.2020) — Mexican law enforcement authorities are investigating a former president, Enrique Pena Nieto, as part of an inquiry into corruption, the Wall Street Journal reported on Wednesday. Pena Nieto has become embroiled in the investigation of Emilio Lozoya, the former chief executive of Mexico’s state oil firm Petróleos […]
Global Companies Want More Certainty In Mexico
(Energy Analytics Institute, Jared Yamin, 15.Jan.2020) — Executives from foreign companies are having a hard time convincing their parent companies to continue dedicating investments to activities in Mexico, according to the Executive Council of Global Companies (CEEG), which added that the executives said what is needed and wanted is more […]
Talos Energy Touts Zama Study Results
(Chron.com, 7.Jan.2020) — Talos Energy touted promising new study results in Mexico’s first big deepwater oil discovery, and the Houston producer is pushing to move forward so it can maintain control of the project. Talos’ hold on the potentially prolific Zama discovery is somewhat tenuous because Mexico’s state energy company […]
Mexico And Pemex Face Downgrade Risk In 2020
(Reuters, 3.Jan.2020) — Mexico threw troubled state oil company Pemex a lifeline in 2019 to stop $80 billion in bonds held by investors worldwide being labeled junk by credit rating agencies. Now, investors worry that the state itself is a risk for Pemex. Mexico’s creditworthiness came under increasing scrutiny in […]
Pemex Closes Year Of Missed Targets
(Argus, 30.Dec.2019) — Mexican President Andres Manuel Lopez Obrador’s pledges to put state-owned Pemex back at the center of policy have worried investors who had banked on joint public-private opportunities. But operating statistics a little more than a year after the president took office show few signs of a revitalized […]
MTBE, Ethanol Face Off In Mexico
(Argus, 30.Dec.2019) — Mexico’s oxygenates sector — long dominated by methyl tertiary butyl ether (MTBE) — could face market pressures to move toward ethanol as an octane enhancer for gasoline in 2020. MTBE will likely continue to be the prevailing enhancer, but further expansion of private suppliers in 2020 could […]
Pemex Reserve Discovery Boosts Mexico’s Oil Ambitions
(S&P Global Platts, 10.Dec.2019) — Pemex’s largest hydrocarbon reserve discovery in 30 years is boosting the Mexican government’s confidence that the troubled state-run enterprise can reverse a more than decade-long decline in crude oil production. An analysis of initial production results and seismic data from the onshore Quesqui field led […]
Pemex Finds Giant Oil Field In Quesqui
(Pemex, 6.Dec.2019) — The President of Mexico, Andrés Manuel López Obrador, accompanied by the General Director of Petroleos Mexicanos (Pemex), Octavio Romero Oropeza, toured the Quesqui oil field, which according to seismic data confirms the existence of a giant oil reservoir of at least 500 million barrels, the equivalent of […]
As Troubles Grow, Mexicans Keep the Faith With AMLO
(NYT, Elisabeth Malkin, 1.Dec.2019) — One year into his term, President Andrés Manuel López Obrador faces a stagnant economy and spiraling violence, but Mexicans still place their hopes in him. Every day before dawn, a knot of unemployed men gather at the gate of a construction site, hoping to land […]
Unpaid Bills Add To Pemex Woes
(Bloomberg, Amy Stillman, Peter Millard and Justin Villamil, 26.Nov.2019) — Companies that help keep Mexico’s faltering oil wells operating are waiting months to get paid and the debts are building up, complicating efforts to revive an industry whose production has plunged by half since 2004. Pemex, facing pressure from the […]
Pemex Cyberattack Has US Cos. Taking Precautions
(Chron.com, Sergio Chapa, 25.Nov.2019) — American oil companies operating south of the border are stepping up their cybersecurity measures after reports of a ransomware attack that allegedly knocked out computers at Mexico’s state-run oil company Petroleos Mexicanos, or Pemex. Mexican media outlets have been reporting over the past two weeks […]
Don’t Count On Oil To Reignite Latin America
(Project Syndicate, Mauricio Cárdenas, 5.Nov.2019) — Some regard Latin America as the world’s new oil frontier, and think that the region could potentially add three million barrels per day to global output during the next decade. But, although Brazil is well placed to ramp up production, Mexico and Venezuela seem […]
Mexico Boosts Spending In 2020 Budget
(Aljazeera, 9 Sept 2019) — Mexico‘s government cautiously freed up funds for spending in its 2020 budget proposal on Sunday, slightly loosening a primary surplus target as it aimed to balance big welfare promises with the reality of a stagnant economy. President Andres Manuel Lopez Obrador‘s second budget since winning […]
OPIS Mexico Fuel Week Opens Registration
(OPIS, 28.Aug.2019) — OPIS (Oil Price Information Service) by IHS Markit has opened registration for the third annual OPIS Mexico Fuel Week, October 21-24, 2019. The event will be held in Mexico City at the Sheraton Maria Isabel Hotel. Confirmed speakers from both government and industry include: — Representative Manuel […]
Mexico Eyes $4.5bn Savings From Contract Renegotiation
(Reuters, 27.Aug.2019) — Mexico said on Tuesday a deal had been struck with a group of companies to renegotiate the terms of natural gas pipeline contracts signed under the previous administration that will save the government $4.5 billion. The deal announced by President Andres Manuel Lopez Obrador and the head […]
Wind Developers Losing Heart On Mexico Amid Stall
(Chron.com, Emily Pickrell, 22.Aug.2019) — Mannti Cummins, a Corpus Christi wind developer, has spent the last 17 years building wind energy projects in the Rio Grande Valley, from Brownsville to Baffin Bay. So when Mexico deregulated its power markets as part of the nation’s landmark energy reforms six years ago, […]
Mexican Gov’t To Keep Investing In Pemex
(Reuters, 16.Aug.2019) — Mexican President Andres Manuel Lopez Obrador said on Friday that his government would keep investing in state oil company Pemex, which is on the verge of losing its investment grade rating. Fitch Ratings downgraded roughly $80 billion of bonds to speculative grade – or “junk” status – […]
Mexican Lawsuit Risks Permian Route To Market
(Petroleum Economist, Charles Waine, 2.Aug.2019) — Mexico’s Comisión Federal de Electridad (CFE), the state-owned electricity utility, has started legal proceedings against seven natural gas pipelines. The move intensifies fears about both the anti-business agenda of the country’s president Andres López Obrador and further delays to a much-needed release valve for […]
Mexico Auctions Moratorium Give Rival Brazil An Edge
(Bloomberg, Peter Millard and Amy Stillman, 9.Jul.2019) — Mexico’s moratorium on auctioning off its oil riches to foreign producers is giving a leg up to nearby rivals Brazil and Guyana. ‘Mexico President Andres Manuel Lopez Obrador has halted new bid rounds, and state-owned Petroleos Mexicanos has disappointed potential partners by […]
Mexico’s CNH Approves BP’s Offshore Drilling Plan
(Reuters, Rebekah Ward, 25.Jun.2019) — Mexico’s oil regulator on Tuesday approved a $97 million plan for drilling in an offshore area operated by British supermajor BP in the southern Gulf of Mexico. The four-year exploration plan approved by the national hydrocarbons commission (CNH) covers a 700,000 square kilometer shallow water […]
LatAmNRG Heard On The Street: Gas Markets, Argentina Tender
(Energy Analytics Institute, Aaron Simonsky and Ian Silverman, 25.Jun.2019) — Heard on the street related to the Latin America and Caribbean upstream, midstream, downstream and renewable energies sectors. ARGENTINA — During the first half of July a tender will be launched in Argentina for the construction of a new natural […]
The End Of Mexico’s Rigorous Energy Reform
(Oilprice.com, Tsvetana Paraskova, 22.Jun.2019) — Mexican President Andrés Manuel López Obrador has been a vocal critic of the energy reform of his predecessor Enrique Peña Nieto, who opened in 2013 Mexico’s oil and gas sector to private investment for the first time in seven decades. Six months into office, […]
Mexican Oil Regulator Cancels October Tender To Pick Pemex Partners
(Reuters, 13.Jun.2019) — Mexico’s oil regulator announced on Thursday the cancellation of October auctions to pick joint-venture partners in seven onshore areas for state oil company Pemex, which is struggling to reverse more than a decade of falling crude output. The move represents a fresh blow to the flagship energy […]
Mexico Initiates Construction Of The Dos Bocas Refinery
(Energy Analytics Institute, Jared Yamin, 2.Jun.2019) — Mexico initiated construction activities related to the Dos Bocas Refinery, the country’s President Andrés Manuel López Obrador President announced via a social media post on Twitter. *** © Energy Analytics Institute (EAI)
Mexico Charges Former Oil Official With Bribery In Anticorruption Drive
(New York Times, Kirk Semple and Azam Ahmed, 28.May.2019) — The administration of President Andrés Manuel López Obrador of Mexico has launched its first major anticorruption prosecution, delivering on a central campaign promise by taking aim at corruption inside the ailing state-owned oil company. Bribery and tax fraud charges have […]
LatAm’s Gasoline Problems: Mexico And Brazil Diverge In Fuel Balance Strategy
(WoodMac, 15.May.2019) — The two dominant players in Latin American oil and gas – Petrobras and Pemex – should face negative net gasoline balance for decades to come. This makes the two NOCs the most important Latin American importers of US gasoline, granted that Brazil’s deficit is mitigated by its […]
Mexico’s Rising Oil Nationalism Faces Debt-Rating Crisis
(Reuters, Stefanie Eschenbacher and David Alire Garcia, 14.May.2019) — Mexican President Andres Manuel Lopez Obrador took office in December vowing to revive state-owned energy company Pemex and put the brakes on foreign investment to give the public a bigger cut of the country’s oil wealth. The leftist oil nationalist’s ambitions […]
Mexican Union Leader Shot Dead In Troubled Oil Refining City
(Reuters, 12.May.2019) — Unidentified gunmen shot dead a trade union leader in Mexico’s central city of Salamanca, authorities said on Sunday, the latest outbreak of violence in an area plagued by a murderous struggle between gangs over fuel theft. Gilberto Munoz, a former federal lawmaker and the leader of the […]
LatAmNRG Briefs: Pemex Dos Bocas, Bolivia Charges Persons In Drillmex Case
(Energy Analytics Institute, Jared Yamin and Ian Silverman, 9.May.2019) — Heard on the street and LatAmNRG briefs related to the Sener and Pemex moving forward with the Dos Bocas Refinery project in Tabasco, and Bolivia’s Public Ministry charging 21 persons involved in irregularities related to the contracting processes with Drillmex. […]
Pemex To Build $8bn Oil Refinery As Mexico Scraps Tender Process
(Ft.com, Jude Webber, 9.May.2019) — Andrés Manuel López Obrador, Mexico’s president, has stepped up his commitment to an $8bn refinery project, rejecting three private sector bids as too costly and vowing that state oil company Pemex will build the plant. The leftist nationalist president batted aside concerns about the ability […]
LatAmNRG Mexico Briefs: Odebrecht Contracts, FMP Transfer, Oil Slide Halted
(Energy Analytics Institute, Jared Yamin, 27.Apr.2019) — Heard on the street and LatAmNRG briefs related to Mexico reviewing Odebrecht contracts, FMP transferring 115 billion pesos to Federal Treasury and Mexico’s President Andrés Manuel López Obrador claiming that his government has halted the slide in the country’s crude oil production Mexico […]
Pemex Head Says Fuel Theft In April 2019 Down 98% Since November 2018
(Energy Analytics Institute, Jared Yamin, 22.Apr.2019) — The illegal theft of combustible in Mexico is down 98% since November, announced Pemex General Director Octavio Romero Oropeza on 22 April 2019 during a conference held in Mexico City. Illegal activity related to the theft of gasoline was 2,000 barrels per day […]
To Halt Energy Slide, Mexico Turns To A Trusted Provider: Mexico
(NYT, Elisabeth Malkin, 11.Apr.2019) — President Andrés Manuel López Obrador envisions a future in which Mexico produces more oil, gasoline and electricity. But his strategy to get there relies on reaching back into his country’s past. Breaking with a five-year-old energy overhaul that opened Mexico’s closely held oil industry to […]
Mexico Would Consider State Gas Stations In Push For Fair Prices
(Reuters, 9.Apr.2019) — Mexico’s President Andres Manuel Lopez Obrador said on Tuesday he would consider creating a chain of government gas stations if existing fuel outlets did not charge “fair prices,” as he seeks to make good on a campaign vow to ensure stable fuel rates. Benchmark gasoline prices have […]
Mexican President Warns Retailers: Keep Gas Prices In Check
(Oilprice.com, Tsvetana Paraskova, 9.Apr.2019) — The Mexican government may consider creating a small network of gas stations that would sell gasoline at lower, “fair prices”, if gas station operators in the country don’t keep gas prices in check, Mexico’s leftist President Andrés Manuel López Obrador said on Tuesday. López Obrador—in […]