Sheinbaum Addresses Issues in Oil Production and Pricing

Claudia Sheinbaum highlights progress in addressing suppliers' payments and a new price cap on gasoline amid Pemex's financial turmoil. The government aims to stabilize fuel prices while tackling production shortfalls.


Sheinbaum Addresses Issues in Oil Production and Pricing

The head of government of Mexico City, Claudia Sheinbaum, announced that progress is being made in payments to suppliers, although she admitted that they are unaware of the total amount of the debt. Despite reports from the oil company suggesting that the figure amounts to about 20 million dollars, Sheinbaum assured that it is considerably lower; however, she could not specify the exact amount as the details of the debt are still being reviewed.

In contrast to recent rumors, the government denied that U.S. refineries are rejecting Mexican crude due to its salt and water content. Despite Pemex's financial difficulties, Sheinbaum stated that current oil production is only 400,000 barrels below its capacity and expressed her confidence in recovering this figure during the year through greater operational efficiency. When suggested about issues in Pemex, Sheinbaum responded firmly: "Pemex does not face any problem."

Regarding the agreement to set a cap on gasoline prices, the head of government reported that negotiations with gas station operators are progressing to establish a limit of 24 pesos per liter. Although an announcement was expected last week, Sheinbaum indicated that it would be delayed a couple more weeks.

However, complications arose due to Pemex's financial situation. Sources close to the discussions between the government and gas station operators revealed that the oil company is facing difficulties in complying with the proposed agreement, as its million-dollar debt and problems with suppliers limit its capacity to reduce fuel prices supplied to distributors.

Additionally, Pemex faces challenges such as delays in payments to suppliers, reports of contamination in exported crude, and a lack of clarity regarding its partnership plan. These problems have added pressure on the company, which struggles to stay afloat. In the morning conference, the energy cabinet presented its plan for the six-year term while Sheinbaum answered questions about the current issues of the oil company, trying to dispel concerns about its operations.