MOGS 2018
News Article
Mexico Oil & Gas Summit 2018: Oil and Gas Policy Outlook: Industry Wish List panel highlights
Ernesto
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Ernesto Marcos
Partner at Marcos y Asociados
Marcos y Asociados
Marcos y Asociados is a Mexican investment banking and business development consultancy.
Roundtable
Jesús Rodríguez
Jesús Rodríguez
Founding Partner
Rodríguez Dávalos Abogados

Filing lawsuits against PEMEX was not advisable due to the complexity of the situation. The fault does not lie with PEMEX because it was a public finance issue. PEMEX and CFE’s treasuries are run by the Ministry of Finance and companies should understand the risks when they agree to do business with them. The first influencing factor was the drop in oil prices, which changed drastically after many contracts had already been signed. Secondly, the previously strained relationship between PEMEX and the Ministry of Finance negatively impacted the NOC’s ability to make payments. PEMEX has now started to pay providers, focusing its efforts on smaller companies. This causes issues because if the larger companies are not paid there is a chain reaction and they cannot pay their subcontractors.

Hit by severe liquidity problems, PEMEX was US$8.5 billion in debt with its suppliers at the end of 2015.
Ernesto Marcos
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Ernesto Marcos
Founding Partner
Marcos y Asociados
Marcos y Asociados is a financial and business consultancy firm specializing in Mexican energy projects.
Three more farmouts with PEMEX are scheduled for 2017: Ayín-Batsil, Cárdenas-Mora and Ogarrio
Analysis
Mexico’s oil and gas revolution continued unabated in 2016 and through the first half of 2017
Ernesto Marcos
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Ernesto Marcos
President
AMESPAC
AMESPAC promotes the interests of its 50 member companies in the Mexican oil and gas sector.
Ernesto Marcos
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Ernesto Marcos
Founding Partner
Marcos y Asociados
Upstream is the single most important activity of the oil industry and farm-outs especially present a great opportunity
Ernesto Marcos Giacoman
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Ernesto Marcos Giacoman
President of AMESPAC and Founding Partner
Marcos y Asociados
AMESPAC has been deeply involved in looking for solutions, and approaching PEMEX to face this issue so that the government can finally take actions.
BUDGET ADJUSTMENT PLAN ( BUDGET ADJUSTMENT PLAN (MX$ billion) MX$ billion)
Analysis
The year 2015 marked a historic change in Mexico’s oil and gas industry, with the awarding of the first blocks in the newly open market.
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