By THE PULSE NEWS MEXICO STAFF With the government’s new Dos Bocas oil refinery slated to open in July and the expanded operations of the Paraíso refinery in Tabasco, President Andrés Manuel López Obrador (AMLO) said Tuesday, April 12, that Mexico will be self-sufficient in gasoline, diesel and turbine fuel production by the year 2023. Speaking during his quarterly State
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By THE PULSE NEWS MEXICO STAFF After thousands of U.S. drivers were crossing into the country to fill up their tanks on Mexican government-subsidized gasoline, the nation’s Treasury Secretariat (Hacienda) on Saturday, April 2, announced that it will suspend gas subsidies along the northern border, effective immediately, at least through Friday, April 8. Two days later, Mexican President Andrés Manuel
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By THE PULSE NEWS MEXICO STAFF Although Mexico exports crude oil, it is a net importer of carbon-based fuel, meaning that it imports more oil products than it imports. Consequently, the surging price of international oil, and by extension, all oil-based products, such as gasoline, will negatively impact Mexico’s finances, Janneth Quiroz Zamora, deputy director of economic analysis at the
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By THE PULSE NEWS MEXICO STAFF Keeping President Andrés Manuel López Obrador’s (AMLO) promise on Thursday, March 3, to not raise gasoline prices as global crude oil prices soar will come with a hefty price tag for his administration, experts warned on Friday, March 4. Just last January, the fiscal stimulus granted by the government to gasoline consumers represented a
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By THÉRÈSE MARGOLIS After stating that Mexico is against any use of military force to resolve geopolitical disputes, President Andrés Manuel López Obrador (AMLO) on Thursday, Feb. 24, said that he “has a plan” to avoid fuel price hikes in Mexico stemming from the Russian invasion of Ukraine. “In terms of foreign policy, Mexico is going to continue promoting dialogue,
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By THE PULSE NEWS MEXICO STAFF While Mexican President Andrés Manuel López Obrador (AMLO) has set a deadline of 2024 for the nation to become self-sufficient in gasoline production, the country is severely lagging in the production of premium, high-octane gasoline, used by about 30 percent of all Mexican vehicles. Currently, Mexico’s state-run oil company Petróleos Mexicanos (Pemex) produces only 4
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By THE PULSE NEWS MEXICO STAFF Mexico’s financially strapped state-run oil company Petróleos Mexicanos (Pemex) is slated to take control of the Deer Park refinery, located in Texas, on Thursday, Jan. 20, in accordance with a purchase agreement with the Anglo-Dutch transnational corporation Royal Dutch Shell, which currently owns half of the oil processing plant. In May of last year,
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By KELIN DILLON On Wednesday, Dec. 22, the U.S. government approved Mexico’s state-owned oil company Petróleos Mexicanos’ (Pemex) $596 million purchase of Shell’s Texas refinery Deer Park, with the acquisition planned to be finalized within the first few weeks of 2022. “The purchase shows a good relationship between the United States and Mexico,” said Mexican Secretary of Foreign Relations Marcelo
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By KELIN DILLON Though Mexican President Andrés Manuel López Obrador’s (AMLO) under construction Dos Bocas refinery maintains its planned July 1, 2022, launch date, new reports reveal the crude oil processing plant will take more than a year to operate at full capacity, which is anticipated to occur in September of 2023. As per López Obrador’s schedule, the full operations
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By KELIN DILLON As the Mexican government continues its quest to give state-owned oil company Petróleos Mexicanos (Pemex) majority control over the nation’s energy market, it has now closed a number of privately owned terminals used to import fuel across the country. In the past month and a half alone, three terminals in Tuxpan, Puebla and Hermosillo were closed by
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