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Weekly Roundups

Oil Consumption Increase Affects PEMEX’s Distribution

By Karin Dilge | Wed, 04/06/2022 - 17:00

Increasing oil consumption is affecting the NOC’s distribution capacities. In other news, PEMEX will start operating a shallow water area originally operated by Talos Energy.

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

PEMEX Becomes Operator of Zama Field

This week, the Ministry of Energy (SENER) announced the final Unitization Resolution (UR) of the Zama offshore field and designated the state-owned oil company PEMEX as the main operator of the shallow water area in the Gulf of Mexico, in lieu of the E&P player Talos Energy.

After several months of waiting, and even though the latter company is originally responsible for the discovery of the field in 2017, SENER decided that of the 35 percent participating interest it had before the verdict, Talos will only maintain 17.35 percent.

Oil Supply Shortage Affects Northern States

Oil consumers in the northern states of Mexico have seen PEMEX gas stations saturated because of a lack of fuel at several of the NOC’s service terminals, caused by US customers rushing to fuel stations on the Mexican side of the border. Experts worry that these factors could lead to problems in Mexico’s fuel price subsidy policy.

PEMEX’s Supplier Involved in Panama and Pandora Papers

During PEMEX’s Octavio Romero administration, companies linked to Fabián Narváez Tovar signed millionaire contracts with the NOC, even though Narváez and his businesses have been involved in the investigations known as the Pandora and Panama Papers. Eight years ago, authorities deemed one of his companies to be a shell company. Narváez’s ships also participate in different agreements with PEMEX, with at least five contracts where a link with the entrepreneur can be defined.

Increasing Oil Consumption Affects the PEMEX Distribution System

Oil consumption increased significantly in recent months, which affected PEMEX’s distribution system. The return to face-to-face classes, oil price increases in the US and the suspension of gasoline imports resulted in a 40 percent increase in fuel consumption, generating a shortage and temporary closures for some service stations due to their lack of supply.

PEMEX Owes CFE

Up until February 28, 2022, around 27 government have not paid a total of MX$3.5 billion in electricity bills to CFE. PEMEX alone owes the state utility MX$2.9 billion.

Nahua Fishermen Denounce PEMEX for Decades of Pollution

Ricardo Torres Cruz, a native Nahua community leader and fisherman from the state of Veracruz, recently traveled to Mexico City to ratify a legal complaint against PEMEX after denouncing the decades-long sulfur pollution of the river streams around his home in the Gulf Coast state of Veracruz. Meanwhile, the company is dealing with the historical environmental damages that have turned the Coast into a “sacrifice zone.”

 

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Karin Dilge Karin Dilge Journalist and Industry Analyst