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Weekly Roundups

Fuel Import Permits Significantly Reduced

Thu, 06/03/2021 - 19:22

SENER’s header Rocio Nahle claimed this week that 93 percent of the fuel import permits that had been issued to private companies before the Lopéz Obrador administration began have now been cancelled. During her participation in the Siemens Energy Innovation Days digital forum, Nahle explained that, when her administration began, 1,053 fuel import permits had been issued since the Energy Reform’s enactment in 2014. She claims that initial research proved that at least 600 of these permits were not actually being used to import any fuel and were instead being potentially utilized for tax evasion schemes, reports Energía Hoy. 

Ready for More? Here’s the Week in Oil & Gas!

Judges Freeze Price Rule Changes Aimed to Benefit PEMEX

Mexican federal judges have provisionally suspended a change to the Hydrocarbons Law pushed by the López Obrador administration. With these changes, asymmetric price regulations against national oil company PEMEX were removed, allowing the NOC greater freedom to make use of its dominant position in the Mexican market. The suspension comes from the first and second district courts in administrative matters, specialized in economic competition, telecommunications and broadcasting. 

Shell Loses Major Court Case

A Dutch court ruled against Shell in a case that was originally filed against the IOC by environmental groups such as Greenpeace and Friends of The Earth back in 2019. The original suit claimed that Shell was endangering the lives of Dutch citizens by continuing its involvement in fossil fuel extraction. The court mandated Shell to revise its decarbonization objectives: while Shell had pledged to cut their carbon emissions by 20 percent by the end of this decade, the court ordered them to cut them by 45 to 50 percent. Shell reportedly plans to appeal this decision.

Chevron Passes Stricter Emission Cut Plan

Chevron's board of directors passed a new plan to cut CO2 emissions that called for deeper cuts when compared to objectives established back in March to cut emissions from its operations by 35 percent per unit of production by 2028. This new plan makes Chevron responsible for cutting emissions generated by all the oil and gas they commercialize, rather than only those emissions generated by oil and gas specifically produced at their “units of production”. This came on top of another slate of negative recent headlines for Chevron after media and public pressure continues to mount for them to drop their controversial case against climate attorney Steven Donziger.

Exxon Forced To Accept Activist Board Members

Exxon was forced to accept new board members into their top leadership circles from activist hedge fund investors. This is the first time activist investors have successfully voted their picks onto Exxon’s board, and it is likely to result in a complete reversal of Exxon’s very modest decarbonization objectives. These objectives were pledged back in December 2020 and call for a reduction of emissions between 15 to 20 percent by 2025.

The data used in this article was sourced from:  
MBN, Energía Hoy
Photo by:   SENER