It has been a busy first week as AMLO begins to slowly reveal his priorities, ministries and projects for his political term. A new refinery and auctions on hold for three years are among the main points in AMLO’s new energy plan, with more yet to be revealed. In the meantime, plans to start drilling wells in Campeche have been announced.
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AMLO presented his National Refining Plan in Tabasco. This plan aims to decrease the price of hydrocarbons in the next three years by increasing gasoline production in Mexico and by no longer importing fuels.
- He announced an additional investment of MX$75 billion into PEMEX in 2019 which will be allocated to the reconfiguration of the six existing refineries and the construction of the brand-new Dos Bocas refinery.
AMLO also announced that there will be no oil auctions in the next three years for companies that previously won blocks to bear fruits from their investments. As of October, an average of 12,611b/d were produced by private companies in Mexico.
‘Tis the season for well drilling…AMLO will be traveling to Campeche to announce the perforation of various wells to increase crude production in Mexico.
DEA AG finalized its acquisition of Sierra Oil and Gas last week, making it the third largest company with the most exploratory fields allotted in Mexico.
Oil extraction will drop in the beginning of the new administration. Within the first months, there will be a decrease in crude and gas platforms of the 16 PEMEX deposits.