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Mexico captures US $ 396 million of FDI in oil and gas extraction

Mexico captured 396 million dollars of FDI in oil and gas extraction from January to September 2020, a reduction of 33.5% year-on-year, according to data from the Ministry of Economy.

Several private sector oil and gas contractors that received contracts for land, shallow water and deep water projects from 2015 to 2018 expect to begin implementing their investment plans in 2021.

These include BPH, BP, Murphy Energy, Chevron, Diavaz, ExxonMobil Grupo R, INPEX, Total, Premier Oil, Petrobal, Hunt, Grupo México, Jaguar, Petrofac, Lukoil, and Hukchi Energy.

The Hydrocarbons Law and the Hydrocarbons Revenue Law regulate activities that range from exploration, extraction and refining to the distribution, storage, sale and commercialization of hydrocarbons and allow Mexican and non-Mexican investors to participate in the bidding process for exploration , production and transportation of oil and gas.

Oil and gas

These laws allow the Government to assign oil and gas exploration and extraction activities to private oil and gas companies, in addition to Pemex, which was reorganized into a productive state entity through the constitutional energy reform approved in 2013.

As of December 31, 2019, Pemex continues to be the largest player in the industry.

Gasoline

As of January 1, 2016, private companies can own gasoline and diesel service stations that do not have to be a Pemex franchise. Private companies can now also import gasoline and diesel.

On December 1, 2017, the Ministry of Energy announced that around 19% of the service stations throughout Mexico are no longer Pemex franchises but other national and foreign brands, with the incorporation of approximately thirty new brands in less than one year.

With the increase in the number of fuel brands in Mexico, the oil and petrochemicals industry is expected to invest nearly $ 4 billion in new infrastructure in the areas of storage and transportation by pipelines and railways in the coming years.

The number of retail service stations owned or franchised by Pemex decreased 13.5% in 2019 compared to the previous year, mainly due to greater competition in the open market.

In 2019, Pemex supplied petroleum products to 2,922 retail service stations in Mexico that are not owned or franchised by Pemex.

 

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