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Mexico must overhaul its NOC
Crucial structural reforms and change in operating philosophy are needed to arrest PEMEX’s ongoing decline and restore oil production growth
Mexico’s upstream Pemex gamble
The government refuses to expand E&P access despite the NOC’s high debt pile, falling crude output and growing gas import dependence
Major upstream decline threatens Mexico’s energy security
Dire crude projections and heavy debt burden are weighing heavily on NOC Pemex
Pemex scrambles to plug the gap
The NOC’s dire financial situation and maturing fields have left the authorities with little choice but to reduce crude expectations
Hydrocarbon Processing Refining Databook 2025: Americas
The US and Canada are boosting capacity builds for renewable diesel and biofuels, while Central and South American countries are investing heavily to upgrade and expand their domestic refining sectors
Latin America’s evolving crude outlook
New supply from Argentina, Brazil and Guyana is rich in middle distillates, but optimism in terms of volume growth remains tempered by regulatory and technical risks as well as price volatility
Mexico’s energy ambitions weigh heavily on Pemex
The government’s resource nationalism is aggravating the NOC’s debt position and could yet worsen if also tasked with the decarbonisation shift
Mexico’s new president faces fiscal crunch
While greater focus on decarbonisation is likely, economic pressures and huge debt burden could squeeze energy policy ambitions
Mexico’s election could evolve oil nationalism
Upcoming elections are likely to deliver a win for the party of president Andres Lopez Obrador, but analysts differ over to what degree his successor will stick to his energy policies
Mexico’s fledgling LNG export industry faces growth challenges
While developers are making progress, infrastructure, regulatory and political uncertainties risk stunting opportunities
Mexico
9 January 2017
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Mexico's reformation leader

In October, Petroleum Economist met with Mexico's Secretary of Energy, Pedro Joaquín Coldwell, during our strategy forum in Mexico City. In the following weeks, we carried out an interview over email with the minister. The questions and answers follow

PE: Mexico's Energy Reform is one of the most important legislative changes in the global energy sector in decades. Are you satisfied with its progress? PJC: Very satisfied. Mexico undertook the deepest and most comprehensive Energy Reform in the last 80 years, in a context of volatility in international energy markets and in which technological changes have radically transformed the industry at the global level. Mexico is performing a true energy revolution . The relevance of this transformation lies in the fact that practically all activities in the hydrocarbon and electricity value chain - except for nuclear energy - were opened to private investment. President Enrique Peña Nieto prom

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