Blog
Update of the Guidelines that regulate the procedure for the quantification and certification of the Nation’s Reserves.
The recently published Guidelines that regulate the procedure for the quantification andcertification of the Nation's Reserve (https://www.dof.gob.mx/nota_detalle.php?codigo=5653849&fecha=31/05/2022#gsc.tab=0), highlight the immediate applicability for Contractors...
Pemex vendor debt reaches historic, unpayable levels
Strategic Considerations: The state-owned company's debt to suppliers grew considerably last year as the oil giant increased its expenditures, despite the decline in oil prices due to the COVID pandemic. The health and economic crises made it harder for the company to...
REDD Insight: Pemex can’t talk its way into higher output
[The REDD Insight is a daily market comment produced by senior members of the REDD Intelligence Latin America newsroom. The views expressed in this report are solely those of the author(s) and are not necessarily either shared or endorsed by REDD.] “The old rule of...
Pemex budgetary cut will hurt oil production recovery in 2020
Strategic Considerations: Pemex’s crude output could be around 1.5m barrels of oil per day by the end of the year due to the company’s financial situation and the depletion of the Ku-Maloob- Zaap fields. Since the company has been reducing investments in exploration...
Limits, Opportunities in Mexico’s Secondary Market
Interview with Layla Vargas, Muvoil's General DirectorBy Pedro Alcalá Read original Q: What do you consider to be the most important milestones that led to the founding of Muvoil Consulting? A: Before founding Muvoil in 2018, I worked as the Director General for...
CNH’s measures to promote Petroleum Activities facing SARS-CoV2.
In response to the challenges that the Petroleum Operators have faced as a consequence of the sanitary emergency SARS-CoV2 and the suspensions of legal terms, today CNH´s Governing Body approved the Agreement whereby the National Commission of Hydrocarbons establishes...
Is the Administrative Rescission of an E&P Contract Arbitrable under USMCA?
With similar provisions to NAFTA, USMCA’s Chapter 14 contains a set of rules for protecting investments of nationals from other State Parties regarding Mexico: American and Canadian investors. Among these protective provisions are several principles of international...
Closing, Decommissioning and/or Abandonment Program (CDAP)
An update in the Guidelines for Industrial and Operational Safety, and Environmental Protection to Closing, Decommissioning and/or Abandonment of the Hydrocarbon Sector Facilities was published in the Official Gazette (DOF) last May 21st, 2020. Purpose: to establish...
Upstream Industry and the ‘New Normal’ challenges, mitigation measures in LATAM
Given the current situation, governments are applying different measures to support the Oil Industry. What measures are being applied in LATAM countries regarding the Upstream Industry? Argentina Access to the Emergency Support Program of Work and Production. Local...
Las Transferencias Ordinarias del FMP en enero 2020
Los Ingresos Petroleros de Asignatarios y Contratistas son administrados, invertidos y distribuidos por el Fondo Mexicano del Petróleo (FMP). En enero de 2020, el FMP distribuyó 36.1 mil millones de pesos. Los Fondos Sectoriales y de Estabilización en materia...
Pemex’s new strategy facing 2019 results in E&P
On February 27th, Petróleos Mexicanos (Pemex) presented its preliminary results as of December 31st, 2019. According to the Annexes of the Report, in 2019 Pemex's total production dropped 4.4%, from 2,516 to 2,405 Mboed. According to Pemex, the strategy of developing...
SHCP | Annual report to establish the values of the economic terms of E&P Contracts 2020
On January 15th, 2020, the Ministry of Finance (SHCP, by its Spanish Acronym) published its Annual Report to Establish the Ranks of Values of Economic Terms of E&P Contracts 2020, according to that established in the article 5 of the Hydrocarbons Revenues Law...
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