PEMEX Under New Administration: The Week in Oil and Gas

PEMEX convened for its first session with a new Board of Directors including PEMEX’s new Director General Víctor Rodríguez.

Ready for more? Here is the weekly roundup!

PEMEX Board Approves New Appointments, New Director

PEMEX’s Board of Directors convened for the first session of the new administration and unanimously approved several key appointments. Víctor Rodríguez, newly appointed by Sheinbaum, assumed the role of Director General.

The session confirmed the appointments of the new directors for PEMEX’s subsidiary companies Exploration and Production, Industrial Transformation, and Logistics. Additionally, positions within the Corporate Directorate of Administration and Services, including its sub-directorates, the Corporate Directorate of Planning, Coordination and Performance, the Corporate Directorate of Finance, and the Legal Directorate were filled.

Sheinbaum Sets Limit on Mexican Oil Production

President Claudia Sheinbaum has committed to limiting national oil production to increase self-sufficiency, while maintaining a sustainable vision for PEMEX and the country. She outlined plans to continue strengthening PEMEX and CFE, restricting oil production to meet domestic needs and promoting renewable energy initiatives.

Moody’s Warns of Risks in PEMEX's Renewable Energy Plans

Moody’s discussed PEMEX’s current situation and outlined the most pressing challenges the NOC will face under the next administration. Roxana Muñoz, Senior Vice President Analyst, Moody’s, expressed concerns over the potential risks linked to PEMEX’s diversification plans.

PEMEX to Invest US$798 Million in Homol Field

CNH approved PEMEX's revised Extraction Development Plan (PDE) for the Homol Field, which represents an investment of US$798 million. The Homol Field, located in shallow waters off the coast of Campeche, spans 28.18km2.

New Fortress Energy Exports First Full LNG Cargo from Mexico

New Fortress Energy (NFE) announced the successful export of its first full LNG cargo from its Fast LNG facility located offshore Altamira, Mexico. The cargo, fully loaded onto the Energos Princess, is en route to Europe, marking a significant milestone for NFE’s Fast LNG installation.