It has been a bumpy start of the year and a gasoline shortage has taken the country by storm as more states are being affected by AMLO’s “AntiHuachicol” plan. Cracking down on combustible theft is one of the new administration’s main objectives as a way to restore the country’s oil and gas sector and boost production.
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The Huachicol Aftermath
COPARMEX has calculated a loss of MX$1.3 billion in three states after only three days of gas shortage. Rocio Nahle says that the lack of combustibles and their transportation in pipelines will last as long as it is necessary.
The president announced phase 2 of his plan where the federal forces will be responsible for the surveillance of 1,600km of the country’s most important pipelines.
So far, PEMEX is paying the bill. Closing the pipes has generated extra costs and large losses due to no sales.
Securing Funds for Plans
As for the Minatitlan Refinery, PEMEX will allocate MX$4 billion to rehabilitate it and boost it from its current 29 percent capacity. This refinery will receive 5.3 percent of the total National Refining Plan budget created by the new administration to increase production in Mexico.
The Ministry of Finance has sealed its special petroleum coverage for 2019 where it will be able to guarantee the average price per barrel at US$55, as well as the budgeted income from the exportation of the Mexican mix.