Mexico reform opened the energy sector to foreign investment in 2013 for the first time in 75 years, but weak oil prices and politics continue to pressure the country’s energy industry, Dimitra DeFotis writes in barrons.com.
As for oil production in Mexico, it is at its lowest level since 1981. Production peaked in 2004, and has tumbled by a third to 2.49 million barrels per day from 3.82 MMbpd since, according to Raymond James analysts Pavel Molchanov, Luana Siegfried and Garrison Allen.
Raymond James held conference call last week with the director of investor relations at Petróleos Mexicanos (Pemex), the state-controlled oil producer, and compares the company to counterparts, which include Petroleo Brasileiro (PBR) in Brazil, YPF (YPF) in Argentina and Ecopetrol (EC) in Colombia. Their main takeaway: “Mexico is a prime example of a country where the theory of potentially lucrative drilling economics is running up against the reality of what the industry calls “above-ground” risk, i.e., complicated and uncertain government policy.” Here are more excerpts:
To read complete article click here.
more recommended stories
Traditional cooks ask to respect and protect the original flavor of ancestral Mexican cuisine
The International Meeting “The Children of.
Maya Train continues with archaeological salvage work in Balancán, Tabasco
The exploration of two architectural complexes.
Hong Kong to kill thousands of hamsters after Covid found on 11 animals
Hong Kong has ordered thousands of.
17-year-old girl Monserrat Rodríguez reported missing in Mérida
Monserrat Rodríguez has been missing for.
Tourism decreases in Celestún and Sisal due to Cold Front No. 22
With intense gusts of wind and.
Governor Inaugurates the C5I Yucatan Control Center
The C5I Yucatan Control Center will.
Suicide number 7 is recorded in Campeche so far this year
Suicide in Campeche, a mental health.
Construction company seeks to devastate the Sian Ka’an Reserve in Tulum
The construction company Obra Prima seeks.
Sargassum lands on Cozumel beach along with cold front #22
Large amounts of sargassum landed out.
According to Irving Berlin, INAH must evaluate any change in “Casa de Montejo”
The Mérida City Council Culture Department.