PEMEX CEO Responds to Government Report

Octavio Romero Oropeza, PEMEX’s CEO, presented his analysis of the Fourth Government Report and said that the NOC’s debt decreased this year. The Ministry of Finance is maintaining tax incentives on gasoline costing up to MX$395 million which will be compensated by the oil income, said Deputy Minister of Finance Gabriel Yorio. Furthermore, there was an oil spill reported in Salina Cruz.

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PEMEX CEO Meets With Chamber of Deputies’ Energy and Infrastructure Commissions

This Monday, PEMEX CEO Octavio Romero Oropeza presented his analysis of the Fourth Government Report in front of the United Commissions of Energy and Infrastructure at the Chamber of Deputies. The hearing addressed PEMEX’s debt, fuel prices, production and energy sovereignty, among other questions from Deputies.

2023 Economic Package Contemplates Dip in Oil Prices

Deputy Minister of Finance Gabriel Yorio talked about the risk of falling oil prices in 2023 but highlighted oil hedges, which will shield the 2023 budget. “There may be a global slowdown and then the price may fall, but we have an oil hedge that allows us to shield the budget. Cuts in our spending may not be necessary; we can shield the budget and isolate the impact of the drop in oil prices,” Yorio said at the Finance Commission meeting.

SHCP to Maintain Fiscal Stimulus on Gasoline

For the second week in a row, the Ministry of Finance (SHCP) announced that it will apply a tax incentive of 100 percent on the three different types of gasoline. Consumers will not pay the Special Tax on Production and Services (IEPS) next week.

IMP Technology Contributing to Consistent Well Production

The Mexican Petroleum Institute (IMP) has five products in its arsenal designed specifically for the integral control of waste solids produced by oil wells. One of its benefits is to optimize well production and facilitate the maintenance and mechanical integrity of surface and subsurface equipment. This is done by reducing the levels of investment required in maintaining wells, pipelines and other equipment, as well as drastically reducing the risk of on-site accidents for personnel.

Oil Spill in Salina Cruz, Oaxaca

On Sunday Oct. 23, Director of Fisheries of Salina Cruz, José Alfredo Agustín Jiménez, reported traces of oil over the Playa Brasil, Punta Conejo and Playa Azul beaches. The sites were closed to tourism and fishing activities. The Director reported to El Universal that at least 10km of beach are contaminated and that the spill reaches Huatulco. Civil Protection, the Ecology Department and the Municipality are evaluating the area. So far PEMEX has not addressed the claims.

PEMEX Publishes Tender to Reduce Emissions

PEMEX launched a tender to request an opinion service on its prevention program and comprehensive control of methane emissions at PEMEX Exploration and Production (PEP). The service focuses on the production facilities at Cantarell, Ku Maloob Zaap, Ek Balam, Abkatun Pol Chuc and Litoral Tabasco.

The Real Value of Circular-Use Oil

The common linear use of industrial oil, in which it is used in its application until it degrades and then is discarded and replaced, for most of the current oil waste handling does not meet current industrial needs or environmental aspirations. To this end, it is vital to employ circular recovery and the reuse of industrial oil. SKF is leading this change through its RecondOil solution that allows customers to not only avoid supply chain problems but also reduce costs and diminish their environmental impact.