By THE PULSE NEWS MEXICO STAFF Mexican Finance (Hacienda, or SHCP) Secretary Rogelio Ramírez de la O will need to earmark at least $8.9 billion of federal funds for the state-run oil company Petróleos Mexicanos’ (Pemex) refinery division between 2022 and 2024 in order for the country to become self-sufficent in gasoline production, according to a study conducted by the
Read more
By THE PULSE NEWS MEXICO STAFF Despite efforts by Mexico’s Central Bank (Banxico) last month to rein in inflation through a hike in interest rates, the average price of regular unleaded gasoline hit 24 pesos per liter on Monday, July 12, its highest cost ever, according to the country’s Energy Regulatory Commission (CRE), which is in charge of monitoring fuel
Read more
By KELIN DILLON The construction of Mexico’s Dos Bocas refinery will take more time than expected to complete, and as such, will require an increased budget to help finish the project, said the Petróleos Mexicanos (Pemex) Board of Directors. The refinery is now set to cost the nation up to $12.4 billion, over $3.5 billion more than estimated last year.
Read more
By THÉRÈSE MARGOLIS Thugs in Uniforms Mexican President Andrés Manuel López Obrador’s (AMLO) ever-expanding army of National Guard (GN) troops has been flexing its muscles in a violent show of force against civilians, proving once again that unbridled military power is a threat to the nation and the Mexican people alike. In just the last month alone, members of AMLO’s
Read more
By THÉRÈSE MARGOLIS The Tragic Saga of Victoria She came to Mexico as a refugee in 2018, with the hopes of eventually making her way to the United States and getting political asylum there. But for 36-year-old Salvadorian Victoria Esperanza Salazar Arriaza, the journey north would come to an abrupt end at the hands of the Mexican police, who, after
Read more
By KELIN DILLON In the last decade, Mexico reportedly had to import over $20 billion per year worth of gasoline to cover the country’s growing demand, following Mexico’s state-owned fuel company Petróleos Mexicanos (Pemex) inability to meet the market’s needs. Pemex reportedly suffered huge losses in revenue and production in 2020 after the start of the covid-19 pandemic. The company
Read more
By KELIN DILLON Mexico’s Energy Regulatory Commission (CRE), as mandated by a court order, authorized a reduction in gasoline’s ethanol content, which acts as an oxygenating agent, from 10 percent to 5.8 percent, to be implemented on March 10, which experts say will raise the gasoline’s pollution level. The Mexican Association for Sustainable Mobility recommends the use of 10 percent
Read more
By THE PULSE NEWS MEXICO STAFF Petróleos Mexicanos (Pemex), Mexico’s state-owned oil company, had the lowest recorded gasoline production on record in its existence in 2020, according to government figures. Gasoline production reached an average of 185,600 barrels per day, down 8 percent from the previous year. However, internal sales of Pemex gas managed to increase by 4 percent, reaching
Read more
By SILVIO CANTO, JR. For the first time in a century, there are no rigs searching for oil in Venezuela. Wells that once tapped the world’s largest crude reserves are now abandoned or left to flare toxic gases that cast an orange glow over depressed oil towns. Refineries that once processed oil for export are rusting hulks, leaking crude that
Read more
By RICARDO CASTILLO The talk of the day in Mexico continues to be the arrests for trial of alleged Petróleos Mexicanos (Pemex) budget-sacking artists Emilio Lozoya Austin and José Antonio Yépez Ortiz. The first is accused of crooked moves as director of the national oil company ,and the second actually is said to have called himself “owner” of the Pemex-owned
Read more