• 4 minutes Energy Armageddon
  • 6 minutes "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 12 minutes "Europe’s Energy Crisis Has Ended Its Era Of Abundance" by Irina Slav
  • 6 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 11 hours Is Europe heading for winter of discontent with extensive gas shortages?
  • 1 day "False Flag Planted In Nord Stream Pipeline, GFANZ, Gore, Carney, Net Zero, U.S. Banks, Fake Meat, and more" - NEWS in 28 minutes
  • 3 days ""Green" Energy Is a Scam. It Isn't MEANT to Work." - By James Corbett of The Corbett Report
  • 1 day Wind droughts
  • 9 days Kazakhstan Is Defying Russia and Has the Support of China. China is Using Russia's Weakness to Expand Its Own Influence.
  • 3 hours "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 17 hours Australian power prices go insane
  • 4 days Xi Is Set To Be Re-Elected As China’s Leader
  • 1 day Europeans and Americans are beginning to see the results of depending on renewables.
  • 3 days 87,000 new IRS agents, higher taxes, and a massive green energy slush fund... "Here Are The Winners And Losers In The 'Inflation Reduction Act'"-ZeroHedge
  • 12 days Oil Prices Fall After Fed Raises Rates
  • 5 hours Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
Editorial Dept

Editorial Dept

More Info

Mexico’s Oil Reformation Is Underway

Mexico’s new president Andres Manuel Lopez Obrador, casually abbreviated as AMLO, has now been in office for a month. Despite running a powerful campaign, styling himself as the only candidate who, among other things, could rebuild Mexico’s oil sector so that it stops generating losses, bounces back production-wise and repositions itself as an exciting outlet for investors. AMLO even promised to follow the footsteps of Lázaro Cardenas (who nationalized Mexico’s oil industry in 1938), although he carefully selected his wording on that point so as not to scare off oil majors with a stake in the game. A month into his presidency, it seems Lopez Obrador bring a new spirit to the complex Mexican political and economic system, but is unlikely to become the revolutionary figure that many of his supporters believe him to be.

The oil reform of President Lopez Obrador is multi-pronged and covers almost all aspects of Mexico’s petroleum industry. It aims to refurbish the downstream segment by more than doubling refinery utilization rates, increasing fuel self-sufficiency and building a new state-of-the-art refinery, whilst ramping up upstream activities with an upgraded CAPEX budget and new projects coming onstream within three years. This reform comes following 14 consecutive years of falling production and a refinery throughput decline of some 40 percent in just 10 years.

(Click to enlarge)

Source: BP Statistical Review of World…




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News