Summary
Hydrocarbons Sector Work Plan 2024-2030
Minister of Energy Luz Elena González presented the Hydrocarbons Sector Work Plan 2024-2030, whose goal is to guarantee the sustainable production of hydrocarbons, the sufficient supply of fuels, and greater production of petrochemicals and fertilizers.
It was noted that the activities of Petróleos Mexicanos (Pemex) are not monopolistic. However, the company will have priority in hydrocarbon exploration and extraction activities. It was indicated that no more oil fields will be turned over to private investors.
Pemex functions and objectives
Víctor Rodríguez, the head of Pemex, said that, with the constitutional reform, the company will resume its fundamental function: to serve the Mexican people. To this end, six core functions have been defined:
1. Productivity
2. Energy security
3. Economic well-being
4. Environmental well-being
5. Energy transition
The work plan contemplates an increase of oil reserves, ensuring at least ten years of consumption, with a goal of 2 billion barrels. In addition, the company expects its output to reach 1.8 million barrels of liquid hydrocarbons daily during the current presidential administration.
The plan’s three main objectives are:
• Production of gasoline, diesel, and jet fuel.
• To guarantee the supply of the domestic market without constant fuel price increases known as “gasolinazos”.
• To maintain the price of gasoline at a maximum of 24 pesos (US$1.17) per liter.
It was noted that the main source of financing for Pemex’s investment projects will come from its own resources, given that the company generates approximately US$40 billion annually.
Criticism of gasoline price increases in previous presidential administrations
President Claudia Sheinbaum presented a graph displaying the constant prices of regular gasoline in the country, showing that during the Felipe Calderón and Enrique Peña Nieto administrations prices increased.
Sheinbaum charged that it is “demagogic and hypocritical” that the PAN now wants to lower prices, when during its presidential administrations they promoted the so-called “gasolinazos”. She also pointed out that during those administrations the refineries were neglected.
International relations
The President reported that Minister of Foreign Relations Juan Ramón de la Fuente will meet with U.S. Secretary of State Marco Rubio. In this meeting, it will be explained that in the case of steel and aluminum, the United States exports more to Mexico than it imports.
Ayotzinapa
It was also announced that at the end of February the President will meet with the families of the 43 missing Ayotzinapa students.
Lie detector test
In the “Lie Detector” section, the following false information was refuted:
– It is not true that the Mexican Government will require a visa for U.S. citizens to enter the country.
– It is not true that the Law of the National Housing Fund Institute puts the savings of INFONAVIT workers at risk.
– It is not true that the dismissal of the former prosecutor of Morelos, Uriel Carmona, was for revenge.
– It is not true that the radiology service at the Siglo XXI Hospital was suspended.
– It is not true that Mexico’s foreign policy has caused a distancing in relations with Europe.
– It is not true that the Federal Electricity Commission (CFE) applies discounts on electricity bills for senior citizen INAPAM beneficiaries.
– It is not true that the President does not want to fight the cartels and that the U.S. Government feels that she has ties with organized crime.