Image credits: PEMEX
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Weekly Roundups

Lozoya Has One Week To Finish Building His Case

Thu, 12/09/2021 - 17:55

Former PEMEX director Emilio Lozoya and his legal defense team have been given a December 17 extension to finish all research and negotiation proceedings before one of the two cases against him proceeds to a trial phase, reports Animal Político. The case in question concerns the purchase of the Agronitrogenados plant. Lozoya’s lawyers also requested a month-long extension for the other case against the former director of the NOC, which concerns Lozoya allegedly accepting bribes from Odebrecht, but the judge denied that extension and demanded all pertinent filings be completed by December 13. 

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

AMPES Returns with Expogas as Industry Prepares for 2022

To provide market players with the right tools and information, the Mexican Association of Service Station Providers (AMPES) this week organized Expogas CDMX 2021. Service stations need to integrate technology, infrastructure, public policy, market information, regulation and consumption patterns along their routes to sustainable operations, reported industry experts and authority figures. In addition, they discussed these topics in the framework of service station certification, regulatory objectives, alternative fuels and environmental impacts, forward perspectives for 2022 and the revoking of permits.

ASEA Presents New System For Incident Reports

ASEA revealed its new “Popular Denunciation System”, a new way for citizens to file complaints as well as safety and environmental issues. The system will use an online platform to log complaints from individuals, organizations and companies. The complaints will have to fulfill minimum criteria outlined by Mexico’s environmental laws, but the process will be greatly simplified when compared to the traditional route considered the only one available. When presenting this new system, ASEA Executive Director Angel Carrizales López revealed that from Sep 1 2020 to Aug. 31 2021, ASEA received 108 complaints. 42 percent were directed towards gas companies, 28 percent were directed at fuel service stations, nine percent concerned ducts and pipelines, seven percent concerned hydrocarbon spills and four percent concerned general environmental damage and pollution, while the remaining 10 percent were caused by other events.

Government Authorizes US$3.5 Billion Helping Hand to PEMEX

The government will provide a US$3.5 billion cash injection to PEMEX as part of a new business plan backed by President López Obrador, who continues to make good on his vow to rescue the world’s most indebted oil company. PEMEX plans to use these funds to improve its financial situation by managing its liabilities and issuing new debt. The NOC reported debt of approximately US$113 billion at the end of 3Q21. To offset its financial burdens, the company said it planned to implement several measures as a part of an overhauled five-year business plan, which includes offering new US dollar bonds it calls “New Money Securities”, buying back other bonds and paying current obligations.

Mexico Receives Record-Amount FDI in Oil and Gas Production

From January to September 2021, Mexico’s oil and gas sector attracted US$1,216 million dollars of foreign direct investment (FDI) toward production, a record amount according to data from the US Ministry of Economy and Department of Commerce. Regardless, Mexico’s investment climate is growing increasingly complicated. The investment record stems from contracts awarded for land, shallow or deep water between 2015 and 2018, which began implementing their vast investment plans in the current year.

The data used in this article was sourced from:  
MBN, Animal Político
Photo by:   PEMEX