PEMEX

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PEMEX SA

logo
legal form State company
founding 1938
Seat Mexico City , MexicoMexicoMexico 
management Octavio Romero Oropeza ( CEO )
sales 1,681 billion pesos (approx. 74.04 billion euros )
Branch oil and gas
Website www.pemex.com
As of December 31, 2018

The Petroleos Mexicanos ( PEMEX ), the state oil company of the oil industry in Mexico . The company, which was founded in 1938, had a monopoly in the promotion of fuel (petrol and diesel fuel) in Mexico and the granting of concessions to petrol stations until 2014. In 2014 the monopoly was ended and the company was also opened to private capital. Since November 2017, the owners of petrol stations have also set the fuel prices themselves. PEMEX is one of the ten largest oil companies in the world and plays an important role in Mexico's economy and state income, but is currently suffering from corruption scandals and a lack of investment in recent decades low productivity.

Company history

PEMEX gas station in Mexico
Vicente Fox (President of Mexico 2000 to 2006) wearing a PEMEX helmet

On March 18, 1938, Lázaro Cárdenas del Río nationalized the US and Dutch oil companies in Mexico. Several states responded with a boycott of oil from Mexico. Nevertheless, Mexico was able to develop into one of the largest oil exporters in the world.

The sinking of the two tankers Potrero del Llano and the Faja de Oro sailing for PEMEX in May 1942 triggered Mexico's declaration of war on the three Axis powers Germany, Japan and Italy.

In 2005, PEMEX attempted to withdraw the concession from franchisees who sold blended gasoline (inferior grades were sold as high-quality gasoline) or worked with manipulated gas pumps (which often only dispense 9 liters, while 10 liters are charged). In a court judgment it was decided that these breaches of contract are no reason for the withdrawal of the license.

In 2008, the Congress installed state supervision over PEMEX, which, however, formally only has an advisory role. Around 2012, PEMEX contributed around a third of the state budget with its taxes and other charges, the production volumes have decreased since 2004 and PEMEX posted a loss of 18 billion US dollars in 2019 (35 when counting additional burdens) and is also around $ 105 billion in significant debt. In addition to the falling oil price, the group was also burdened by corruption scandals in recent years. Former PEMEX boss Emilio Lozoya was arrested under the new government in 2020. He leads the company after Enrique Peña Nieto's election victory in 2012 , whose campaign advisor he was. The investigators assume that money has been diverted from the company via a corruption network.

Due to the collapse of production, the new government under Andrés Manuel López Obrador declared rescuing the company to be its central goal in 2019. In a transition phase of three years with new investments, production is to be increased significantly. The Obrador government also commissioned the redesign of Pemex to build a new oil refinery in the state of Tabasco , with the aim of increasing productivity and reducing oil imports. However, this decision met with criticism from environmental policy actors because of the low oil price and the promotion of oil, instead of investing in increased promotion of renewable energies.

Accidents

  • On June 3, 1979, the Sedco 135F oil rig exploded at the Ixtoc I exploration well in the Gulf of Mexico, causing the second largest oil spill in history.
  • On November 19, 1984, explosions in an oil storage facility near Mexico City caused a major fire in which around 500 people were killed, see refinery disaster in San Juanico 1984
  • PEMEX is repeatedly blamed for the 1992 Guadalajara disaster , which resulted in over 200 deaths and over 500 injuries. However, the question of guilt for this has not yet been clarified beyond doubt.
  • On January 31, 2013, a gas leak triggered an explosion in the Torre Ejecutiva Pemex - 14 people died and at least 80 were injured.
  • On the morning of April 1, 2015, an explosion occurred on the Abkatun Permanente oil rig in Campeche Bay in the south of the Gulf of Mexico . Four people were killed in the accident and at least 45 were injured.
  • On April 20, 2016 , several workers were killed and several hundred injured in an explosion at a petrochemical factory owned by PMV, a consortium of Pemex and Mexichem, in the port city of Coatzacoalcos .
  • On January 18, 2019, an explosion occurred near the town of Tlahuelilpan , around 85 kilometers north of the capital, in which at least 73 people were killed and around the same number were injured. According to PEMEX, fuel thieves punched a hole in a pipeline in order to siphon off gasoline. The cause of the inflammation is still unknown.

Oil smuggling

On August 11, 2010, the US Department of Justice reported that US refineries were buying large quantities of oil that had been stolen from the Mexican government's pipelines. Criminals, especially drug gangs, tapped the state pipelines and sometimes even built their own pipelines to steal several hundred million US dollars worth of oil annually. The US Homeland Security Service agreed to repay the Mexican tax authorities $ 2.4 million, which was recovered during a large-scale investigation. The president of Houston- based Trammo Petroleum is due to be convicted in December after being found guilty in May.

Group structure

“Torre Pemex” - administration building in Mexico City

Pemex is divided into the "Corporativo" as the central body and the following subsidiaries:

  • PEMEX Exploración y Producción (Exploration and Production)
  • PEMEX Refinación (refineries)
  • PEMEX Gas y Petroquímica Básica ( LPG and simple petrochemical products)
  • PEMEX Petroquímica (petrochemical products)
  • PMI Comercio Internacional, SA de CV (import and export of all group products)

Competitors

Web links

Commons : Pemex  - collection of images, videos and audio files

Individual evidence

  1. ↑ Amy Stillman: Mexico's Next President Promises Pemex Investment, Names New CEO. In: Bloomberg (bloomberg.com). July 27, 2018, accessed May 25, 2019 .
  2. ↑ Results of PEMEX as of December 31, 2018
  3. ↑ Six dead in protests in Mexico , Die Zeit, January 7, 2017
  4. ↑ a b c AMLO's rescue plan for the stumbling energy giant - Focus on Latin America. In: blickpunkt-latein America.de. July 22, 2019, accessed May 21, 2020 .
  5. ↑ tortilla, gasoline prices unnerve Mexicans as election year begins , Reuters, fourth January 2018
  6. ^ Elisabeth Malkin: In a Change, Mexico Reins In Its Oil Monopoly. In: nytimes.com. April 24, 2012, accessed May 21, 2020 .
  7. ^ Pemex Ups Year-End Oil Output, But Is Likely to Miss 2012 Target
  8. ↑ Mexico's state-run Pemex posts steep 2019 loss in blow to president's revival plan , Reuters, February 27, 2020
  9. ^ Christoph Gurk, Frederik Obermaier, Buenos Aires / Münc: Access in the noble quarter . In: sueddeutsche.de . February 13, 2020, accessed May 21, 2020 .
  10. ↑ NGO proposes killing refinery project, says it has 2% chance of success , mexiconewsdaily, April 9, 2019
  11. ↑ Mexico is illegally destroying protected mangrove trees to build an $ 8 billion oil refinery , Quartz , March 5, 2020
  12. ↑ Explosion destroys skyscrapers in Mexico - 25 dead. In: Focus Online . February 1, 2013, accessed June 8, 2016 .
  13. ^ Mexico oil platform fire kills four, 300 evacuated , Reuters, April 1, 2015. Accessed April 1, 2015.
  14. ↑ Many dead and injured in a gasoline line explosion in Mexico. Spiegel Online , January 19, 2019, accessed the day after.
  15. ↑ At least 73 dead after explosion on gasoline line. Die Welt , January 20, 2019, accessed on the same day.