Positive news for Mexico this past week as PEMEX reported the federal government’s anti-fuel-theft measures had produced positive results. But the AMLO government’s tactics that led to shortages in some areas of northern Mexico also played a part in lower gasoline sales, which hit a 13-year low in January. AMLO also delivered on a promise to launch construction of Dos Bocas, which Banxico said would result in an economic revival for the country’s southern region.

In our Interview of the Week, Mexico Oil and Gas Review caught up with Luis Vázquez, Chairman of the Board of Diavaz of Grupo Diavaz. Luis discussed a range of issues including the company’s experience of working with foreign partners and if Diavaz may one day become a publicly listed company.

All this, and more, in this week’s news roundup.

 

Fuel Theft Drops in January Fuel theft fell to an average of 8,000b/d in January from December’s 56,000b/d average as the government’s anti-huachicol measures began to pay dividends.

Gas Sales Hit 13-Year Low in January The domestic sale of gasoline reached a 13-year low in January, falling 5.2 percent in comparison to January 2018, partly due to the federal government’s anti-theft measures.

Finance Ministry Moves to Protect Consumers The SHCP stepped in to protect consumers from last year’s rising prices at the pump by adjusting the IEPS on fuels to keep prices from increasing in real terms.

Oil Prices Hit Four-Month High Oil prices rose to a four-month high on OPEC supply cuts and the continued fall of Venezuelan production. On Thursday, Mexican Crude Oil traded at US$60.40 per barrel.

AMLO Follows Through on Dos Bocas Promise  Mexican President Andrés Manuel López Obrador announced that despite opposition, the Dos Bocas refinery construction in Tabasco would go ahead as planned at the end of this year. The president also said that details about the bidding process for the works would be announced on Monday, March 18.

Bank of Mexico Forecasts Positive Economic Impact from Dos Bocas Banxico on Friday published a report outlining the positive impact that the construction of the Dos Bocas refinery would have in southern Mexico. The country’s southern region would reap economic benefits from trade and employment generated by Dos Bocas, the Tren Maya project and the redevelopment of refineries in Mintatitlan, Veracruz and Salina Cruz.

 

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