Friday, May 11, 2018
Falling production, rising debt and reduced reserve life were among the chief issues facing Pemex, Mexico’s national oil company. Historic reforms were introduced by Mexico’s government in 2013 to try and spark a significant reversal in performance of both Pemex and the country’s hydrocarbon production as a whole. A fundamental goal of Mexico’s energy reforms, which began in 2013, was to drastically improve the fortunes of Pemex. Pemex is a key source of government income and the company faced challenging times in recent years.
Pemex has sought partners to create joint ventures on key development opportunities that previously it could not tackle alone. Encouragingly, it has now agreed to three deals worth a combined $1.2 billion in cash, cost carries and cost reimbursements.
Read the article discussing Pemex’ success in the bid rounds to date or download the full report to learn:
- The main amendments to Mexico’s constitution, administrative agencies, and regulatory systems
- All winners and key trends to nine bid rounds to date
- What is the recent success and challenges faced by neighboring nations.