The federal government’s decision to cut its public expenditure for 2015 by 2.65%, or MX$124 billion, would not be a major problem if half that cut did not come out of the budget of the national oil company, PEMEX. This amount represents 10.4% of the MX$594.6 billion total expenditure PEMEX […]Continue Reading →
The situation as it stands in Mexico today is that PEMEX refineries are unable to return to the levels of efficiency and production they saw 10 years ago when they averaged 303,400 million barrels per day of refined hydrocarbons.
During 2014, PEMEX about 35% of the distillation capacity of Mexico went unused, mainly […]Continue Reading →
The last quarter of the year seems to evidence the exhaustion of a PEMEX model that no longer holds itself, no matter which angle it is looked at. The fact that the price of Mexican crude oil has dropped below the barrier of US$50 per barrel is just another factor of concern for the […]Continue Reading →
The bidding terms for the first blocks of Round One were presented yesterday in a ceremony that marked the starting point for oil exploration by local and international private companies in Mexico, something that was defined as an “unprecedented milestone in the history of the country“ by Pedro Joaquín Coldwell, Minister of Energy.
“Today […]Continue Reading →
The significant changes the Energy Reform will bring may already be envisaged in events like Mexican Oil & Gas Opportunities Post-Reform II, a three- day summit that took place at the Hyatt Regency in Mexico City which compiled the opinion of some of the main leaders of the industry.
Following the resolution of Round Zero […]Continue Reading →
The long awaited event, Mexican Oil & Gas: Opportunities Post-Reform II, will take place at the Hyatt Regency hotel in Polanco from September 30th to October 2nd. As a sequel to the inaugural summit organized by Infocast in February 2014, this represents an excellent occasion for the oil and gas industry, including government […]Continue Reading →