The Texas-based refinery reported its first annual loss in 2024, highlighting operational challenges and broader issues in the financial performance of the Mexican state-owned oil company
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Grupo Cotemar, a favorite contractor of Pemex, was previously involved in two Pemex accidents that resulted in the loss of nine lives
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According to the IEA’s “Oil 2024, Analysis and Forecast to 2040” report, Pemex has only produced an average of 1.5 million barrels of oil per day since February 2024
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The state-owned oil company highlighted that Mexico’s potential energy transition could see the nation phase out its hydrocarbon subsidies and halter Pemex’s ability to seek out and develop new oil deposits.
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This marks the first time Pemex’s public support has outpaced its contributions since 2020
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The move comes as the price of crude oil is projected to increase to $88 per barrel in 2024
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Mexican President Andrés Manuel López Obrador also confirmed that the Pemex refinery will begin production at the beginning of April
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The losses from 2019 to 2023 mark a 168 percent increase in Pemex’s net losses between 2013 and 2018
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By KELIN DILLON On Monday, July 18, Mexican Judge Juan Pablo Gómez Fierro ruled in favor of suspending the Mexican Secretariat of Energy’s policy requiring users of the Integrated National Transportation and Storage System of Natural Gas (Sistrangas) to certify the reception of their supply with one of the State Productive Companies or its affiliates. The policy essentially forced new
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By MARK LORENZANA Mexican President Andrés Manuel López Obrador (AMLO), in his morning press conference on Monday, June 13, claimed that the price of gasoline is skyrocketing in the United States mainly because the U.S. government has stopped investing in oil due to its preference for electric cars. “The United States has a serious problem because a gallon of gasoline,
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