Pemex contracts from 21 to 11 companies, reduces debt to 4 billion 755 million pesos

Octavio Romero Oropeza, director of Pemex, explained that the 11 companies that were left cannot be liquidated because they have assets

Octavio Romero Oropeza, CEO of Petróleos Mexicanos (Pemex), reported that they received 21 companies in December of last year, of which six have been liquidated and four are in the process of extinction, so only 11 companies will be left in the process. corporate reengineering

In the morning press conference, headed by President Andrés Manuel López Obrador, Romero Oropeza explained that some companies that were left cannot be liquidated because they have assets and said that none is located in tax havens.

The director of Pemex stressed that in October 2004 the highest historical production of Pemex was reached, with 3 million 451 thousand barrels, and in 14 years the production has fallen one million 825 thousand barrels or 53 percent, to be located in one million 626 million in January of this year.

The federal official said that from January 2018 to January 2019, the production was reduced by around 300 thousand barrels per day, from one million 928 thousand to one million 626 thousand barrels per day, so the current administration has made several actions to keep it from falling.

Among these actions, it is worth mentioning the immediate attention to operational problems, reducing the time in the restoration of the wells and the early production of new land fields, among others, which allowed a slight recovery in February, to one million 706 thousand barrels.

Octavio Romero assured that Pemex's production in May had "a blip" due to "day-to-day problems", explaining a low pressure and 15 pump failures.

"In June we rebound and the estimate is that we will grow," said the director of Pemex.

If the fall had not been halted, the company's production would currently be around 1.5 million barrels per day, while the current average is 1.7 million. For the months of November and December, a rebound is expected due to the fact that new wells will enter production.

Oil production goes in clear recovery: López Obrador

For his part, President Andrés Manuel López Obrador said that despite the corruption, it has been possible to start the rescue of Pemex and that the oil production of the country is in full recovery after May saw a fall and in June he recovered.

"Oil production is going through a recovery," said the chief executive during his press conference.

It has made a major effort which includes more resources to Pemex and better management, which has been able to stop the decline in production, and stated that the plan seeks to rescue the productive state enterprise for oil becomes a lever of national development.

In this sense, there are already signed contracts to exploit 22 oil fields, "we are going to have the products needed to convert that raw material into gasoline and diesel and that in the medium term we stop buying abroad."

Mexico cancels the authorization to use 'fracking' to extract oil

López Obrador announced the cancellation of the permit granted by the National Hydrocarbons Commission (CNH) to use the "fracking" method to extract oil from a land field.

The Mexican president was questioned by a reporter about who had requested the permit granted on Tuesday by the CNH to use that method, which the current Government has assured that it will not be used because of the environmental deterioration it causes.

The president acknowledged that an application was made in November of last year, even during the administration of Enrique Peña Nieto (2012-2018), "and it was supplemented during these months."

And in effect it is authorized to exploit a field, it is a well, with 'fracking'. That authorization is suspended; We are not going to use 'fracking' in the exploitation of oil. "

López Obrador added that this morning the issue was discussed and instructions were given to cancel the authorization.

The director of Pemex (Petróleos Mexicanos) has already taken action on the matter.

By Notimex

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