By KELIN DILLON According to data from Mexican Congress’ approved budgets for Petróleos Mexicanos (Pemex), the state-owned gas company could be putting the lives and wellbeing of its employees and the populations residing near Pemex drilling sites at risk due to a lack of continual maintenance within the company’s infrastructure. While figures from 2018 show 17.26 billion pesos in budget
Read more
By KELIN DILLON In the recently released 2022 edition of Brand Finance’s Oil & Gas 50, Mexico’s state-owned oil company Petróleos Mexicanos (Pemex) fell from 16th to 20th place in the rankings of the world’s 50 largest oil companies. The drop stems from Pemex’s 6 percent reduction in valuation from 2021 to 2022; while the Pemex brand was valued at
Read more
By KELIN DILLON According to the Mexican Center for Economic and Budgetary Research (CIEP), if the current tax subsidies provided to gasoline and diesel by the Special Tax on Production and Services (IEPS) are maintained, the Mexican economy will lose 554 billion pesos and experience 2.4 percent contraction in GDP in 2022 as a direct result of the policy. Given
Read more
By KELIN DILLON In the central Mexican state of Hidalgo, gangs of huachicoleros – gas thieves and resellers – have taken their operations to another level of stealth, building secret underground tunnels to tap into and siphon gas from the area’s network of Petróleos Mexicanos (Pemex) pipelines without detection. According to soldiers stationed in the region, the huachicoleros are able
Read more
XINHUA An explosion caused by accumulation of LP gas inside a home in Mexico City killed one person and injured at least 12 others on Saturday, Nov. 13, authorities said. Additionally, another 28 families were left homeless by the blast. The explosion occurred at about 9:40 a.m. local time in the Pensil Norte neighborhood of the Miguel Hidalgo Precinct, said
Read more
By KELIN DILLON One of Mexico’s ejidos, a piece of land commonly owned and farmed by the surrounding native community, won a major battle for its livelihood when federal judges granted an amparo (habeas corpus appeal) against the under-construction $550 million Tula-Villa de Reyes gas pipeline going through Jilotepec, State of Mexico (Edoméx), preventing its further construction through the ejido’s
Read more
By KELIN DILLON According to data from the PetroIntelligence platform, gas prices throughout Mexico rose by a total of 20 percent from December 2020 to the week of Oct. 18, 2021, impacting transportation costs and the pocketbooks of the Mexican consumer. While one liter of gasoline was registered at national average of 18.52 last December, this week’s pricing puts a
Read more
By KELIN DILLON Halfway through the six-year administration of Mexican President Andrés Manuel López Obrador (AMLO), Mexico’s state-owned oil company Petróleos Mexicanos (Pemex) has lost 38.4 percent of its stake in the world’s energy market, dropping out of the top 10 most important international oil companies. Just in 2017, Pemex ranked highly in value according to British firm Brand Finance’s
Read more
By KELIN DILLON According to figures from the U.S. Department of Energy, Mexico is expected to increase its purchase of natural gas from the United States over 2021 and the upcoming year due to higher demand and less production in Mexico itself. In June of 2021, Mexico reportedly bought more than 7 billion cubic feet of gas on several different
Read more
By KELIN DILLON After Mexico’s new nationwide government-imposed limits on the cost of liquified petroleum (LP) gas and the ensuing strikes from the country’s gas unions, President Andrés Manuel López Obrador (AMLO) during his daily press conference on Wednesday, Aug 4, said he will potentially file complaints against any parties who do not respect the new price caps and utilize
Read more