The Mexican economy has, for decades now, been strongly tied to the US’ economic activities and fluctuates according to its neighbor’s development. The US is Mexico’s most important export market as over 80% of the country’s exports go there yearly. Exports also represent a large part of the national GDP and their participation has increased [...]Continue Reading →
Last Wednesday, amidst the rumors about a new deepwater oil discovery, Pemex came out with an official announcement through the media: the ‘Exploratus-1′ well has struck oil – light crude, to be specific. After several reports leaked information on the oil discovery during Monday and Tuesday, Carlos Morales Gil, Director General at Pemex E&P came [...]Continue Reading →
Last week, at the 2014 World Economic Forum Annual Meeting in Davos, Switzerland, Mexican President Enrique Peña Nieto and certain key members of his cabinet were kept busy by a series of treaties and cooperation agreements that Mexico signed with various states and companies. In total, Mexico managed to lock down over US$7.3 [...]Continue Reading →
Although the initial legislative process involved in passing the Energy Reform might have concluded, the political struggle inherent to the debate that surrounds this historic reform is far from being over or even slightly decreasing its volume (or its pitch, for that matter). Now that Pemex is about to become [...]Continue Reading →
2013 will no doubt be remembered as a decisive year for the Mexican oil and gas industry. Although there are obvious reasons why this statement rings true (Energy Reform being chief among them), perhaps it is important to briefly go over certain overlooked industry developments from 2013. It is possible that we then [...]Continue Reading →
The following is a translation of an interview given by Pemex CEO Emilio Lozoya Austin to the newspaper Reforma, published today in the “Negocios” section under the byline of journalist Alexandra López.
What is next in the short term for Pemex?
In the very short term, the first thing we will see is the internal [...]Continue Reading →