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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Recent reports indicate that U.S. refineries are rejecting crude oil shipments from Mexico’s Pemex due to excessive water content, significantly impacting Mexico’s oil export status
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The nation’s historic budget deficit and escalating financial challenges as declining oil revenues and rising public debt costs may cause significant fiscal pressures heading into 2025
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The state-owned oil company owed 403 billion pesos to its contractors according to a Pemex financial report from 2024’s third-quarter
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During her meeting with the Mexican Business Counci, Sheinbaum reportedly touched on the topics of trade, national security, education, and payments to suppliers of Petróleos Mexicanos
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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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The new appointees join the 17 individuals Sheinbaum has already named to her presidential cabinet
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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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