Production State Company or simply Company?
Marcial Diaz Ibarra is a lawyer, consultant of the Energy Sector, with studies in Public Administration. Collaborated in the Legal Department of Pemex for over 10 years, being Legal Assistant at Pemex Refining, Pemex Gas and Basic Petrochemicals and Pemex Exploration and Production, serving in contentious and advisory matters, as an Advisor in the Committees of Procurement under the New Regimen under Pemex Law and the DACS such as: Acquisitions, Public Work, CAAOS, Subcaaos and the Board of Directors. email@example.com
Based on the Constitutional Reform in energy and considering the challenges that will face the state energy companies, the approved secondary legislation creates the Productive State Enterprises, which will give them an entrepreneurial nature, as well as a special new regime and separated from the rest of State entities.
The Energy Reform transformed Pemex monopoly questioned for its efficiency, quality of service and rates in a Production Company of the State and endowed with an entrepreneurial character of a new system that offers tools to be efficient, productive and competitive. But what is happening as a result of that change that occurred by decree?
The price of the mixture has fallen almost 44% from June to December due to the oversupply of the main oil producing countries, affecting countries like Mexico where export earnings which are a fundamental part of the expense of the government, benefiting countries that import more product and most petroleum products consume as happens to our neighbor to the north where gasoline prices have been adjusted downwards due to a situation we have not seen in the country.
June highest price: 105.24 dollars per barrel.
December: 60.94 dollars per barrel.
- June highest price: 102.41 dollars per barrel.
- December: 54.40 dollars per barrel.
- Regular Gasoline in Texas 2.44 dollars per gallon that is 9.29 pesos per liter.
- Gasoline Magna in México raised to 13.31 pesos per liter and in January will have an increase of 3% for the whole 2015.
Whenever gasoline is a necessary good, this price difference affects and increases the goods and services offered in Mexico which makes us be in certain competitive disadvantage with other countries, but we must remember that the fuels have been subsidized by the government and in the first 10 months of the grant price of gasoline and diesel amounted to 41 thousand 937 million pesos, well above the 4 thousand 283 million pesos expected for all 2014 for this concept, in the Revenue Act of the Federation
The good news for the Mexican government is that derived from international prices from November was allowed to quit subsidize consumers of gasoline and diesel and revenue raised by the Special Tax on Production and Services (IEPS) fuels.
According to the Revenue law of Income for the next 2015, the government will get the Special Tax on Production and Services (IEPS) for gasoline alienation and diesel for 3 thousand 419 million pesos.
What is happening on the other side where there are not Productive State Enterprises and Business only, while in Pemex there are limitations to increase oil production that has declined in recent months about 7% compared with the previous year, only the state of Texas reported in the last month 3,525,000 per day, 49.2 percent more than the entire Mexican production.
- USA: In 25 months increased its oil production reaching 8 million 864 thousand barrels per day.
- MEX: Average production is 2 million 390 thousand barrels per day.
- Pemex’s debt rose 19 percent in the first nine months of the year, to total 73.9 billion dollars.
- 15 billion pesos in debt issuance to finance part of the investments of 27 000 300 million expected in 2015.
There are at the door for this 2015 international invitations to tender for exploration and production of hydrocarbons in shallow waters of the Gulf of Mexico. There is to be seen how Pemex faces the challenges of their investment flows and their competition with private companies like BP, Total, and Exxon Shell that are not productive state enterprises and only serve market needs.
The expectation is very high; let’s see how it develops in the process of bidding, awarding and signing contracts.
Some of the investments announced after the Energy Reform PEMEX
2,800 milion dollars for the production of clean fuels.
2,500 million dollars to build the second stage.
495 million. Natural gas pipeline to South Texas to supply the central and western Mexico.
200 million to invest in a fertilizer plant.