Mexico approves definitive energy budget (Business News Americas)

According to information from BNAmericas, the Mexican legislature finally approved the 2019 budget. The budget for different aspects of the energy sector remained largely unchanged from the government’s December 15 proposal.

Pemex will have a total consolidated budget of 465bn pesos (US$23.4mn) and an investment budget of 273bn pesos. From this budget Pemex E&P will receive 367bn pesos and an investment budget of 211bn pesos.

Downstream unit Pemex Transformación Industrial will get a 631bn-peso budget (including the cost of buying product from other company subsidiaries) and an investment budget of 58bn pesos.

Midstream unit Pemex Logística will have a 48bn-peso budget and an investment budget of 1.2 bn pesos. Petrochemical units Pemex Etileno and Pemex Fertilizantes will have respectively 17bn pesos and 9bn pesos.

Mexico’s state-run electricity utility CFE will have a 435bn-peso budget and a 62bn-peso investment budget. CFE Distribución will get 106bn pesos and CFE Transmisión 71bn pesos. Of the utilities’ six generation subsidiaries, CFE Generación I will get 60bn pesos, Generación II 41bn pesos, Generación III 65bn pesos, Generación IV 69bn pesos, Generación V, which administrates independent production contracts from Mexico’s power auctions, will have a 195bn-peso budget and Generación VI gets 68bn pesos.

Energy ministry SENER will have a budget of 27bn pesos and energy regulator CRE will get 248mn pesos. Upstream regulator CNH will have a 215mn-peso budget.

Mexico’s electricity control organ CENACE will get 5.3bn pesos and the controller of natural gas system CENAGAS 26bn pesos.

The institute for petroleum research (IMP) will have a budget of 4.9 bn pesos, the institute for clean energy research INEEL gets 1.3bn pesos and nuclear studies institute ININ 1bn pesos. Compania Mexicana de Exploraciones, an exploration company majority owned by the state, will get 2.5bn pesos.

Source: BNAmericas



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