Mexican President Andres Manuel Lopez Obrador last week announced that measures will be taken to restore the economic solvency of the country’s heavily indebted national oil company, PEMEX, while the CNH had its budget reduced.
The president unveiled his intention to reduce the tax burden on PEMEX so that further investment can be delivered […]Continue Reading →
Mexico’s Energy Reform is widely understood as a group of measures intended to ramp up the country’s ever-declining oil production, but it does not limit itself to this. In line with the authorities’ aim to reduce the Federal Government’s dependency on oil revenues, the reform also implemented an oil fund that would allow control over […]Continue Reading →
But what does this mean for the country in context?
Oil sales hedging is not a particularly popular activity for countries, but luckily for us, Mexico is not one to be influenced by the crowd. Last year, the country hedged 228 million barrels of oil at US$76.40/b, guaranteeing sales at almost US$30/b higher than […]Continue Reading →
As it has been the case with the presentation of its quarterly results for the last year and a half or so, PEMEX began its conference call announcing its 3Q14 results with a brief overview of matters surrounding the Energy Reform and the way in which they will impact the NOC. A calendar […]