Related Articles
Mexican President Lopez Obrador has pledged to revive the country’s upstream
Forward article link
Share PDF with colleagues

Mexico boosts upstream spending

Regime commits further capital to reverse waning crude production

The federal Mexican government will raise its financial backing of Pemex, the state-owned oil and gas firm, significantly next year as it continues to eschew private investment. The Andres Manuel Lopez Obrador administration says it will allocate around $27bn to Pemex’s total budget for 2020—an increase of 8.8pc over the approved financial plan for 2019. In July, the company issued its Business Plan 2019-23 which pledged in 2020 to apportion around $14bn to E&P and c.$3bn for a new refinery to be built in the president’s home state of Tabasco. “In addition to the increase in resources, [Mexican finance minister] Arturo Herrera announced additional support for MXN$86bn ($4.41bn), of whi

Comments

Comments

{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
Kuwait and Oman hope for peace dividend
26 January 2021
More cordial Saudi-Qatar relations raise hopes for economic and energy investment progress in other GCC allies. But serious challenges remain
Pavilion prepares for carbon neutrality as normal
26 January 2021
The Singaporean firm is laying the foundations for when carbon-neutral LNG will be a requirement
Caracas turns to capitalism for survival
26 January 2021
Venezuelan government makes moves to liberalise oil sector as economic sanctions push production to 50-year low
Sign Up For Our Newsletter
Project Data
Maps
PE Store
Social Links
Social Feeds
Featured Video