Currently viewing the tag: "Reform"
On several occasions Emilio Lozoya Austin – CEO of Pemex – has expressed concern about the NOC’s pension system, a situation that was reflected in today earnings call. There were several questions related to the amount of labor liabilities presented today; it is estimated that the value of this liability amounts to MX$ 1.3 billion pesos [...]
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Since the new Energy Reform has been set on the table as a priority of Peña Nieto’s presidential term, Pemex’s restructure discussion is part of every debate. There are as many opinions about what has to be done, as there are people talking about it. However, there are two general views. The first one is [...]
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One of the biggest conundrums that the Mexican oil industry poses for the expert analysts that follow it closely is the obligation that Pemex has to operate by itself. This has always presented an added challenge to all of the already existing technical and red tape obstacles that the company has to overcome on a [...]
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In the last few years, Pemex has made a lot of progress in catching up with certain trends in the international oil and gas landscape. It all started in 1992, with the introduction of corporate governance rules and splitting internally into four independent organisms: Exploration and Production, Refining, Gas and Basic Petrochemicals, and Petrochemicals. After [...]
Continue Reading →When Felipe Calderón Hinojosa became President of Mexico in 2006, he appointed Jesús Reyes-Heroles as Pemex CEO. One of the main objectives with the changes made was for the NOC to become more competitive. The strategic decisions made with this idea in mind included fighting for an energy reform that would allow more participation from [...]
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The Nation owns the following: …all the oil and all solid, liquid and gaseous hydrocarbons…
…With respect to oil and solid, liquid, gaseous or radioactive hydrocarbons no new permit shall be issued and those already issued shall be cancelled in order to allow the Nation to carry out the exploitation of the materials mentioned above [...]
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