The Annual Offshore Oil & Gas Event
logo

The 25thBeijing International Offshore Oil & Gas Exhibition

ufi

BEIJING,CHINA

March 26-28,2025

LOCATION :Home> News > Industry News

Pemex faces oil trading team exodus amid pricing review

Pubdate:2019-09-30 13:49 Source:liyanping Click:

MEXICO CITY (Bloomberg) – Pemex’s head of crude oil trading Victor Briones and two other executives left the company amid a conflict over an external review of the nation’s crude price formulas, people familiar with the matter said.

Briones, who worked for two decades at PMI, the trading arm of Mexico’s state-owned oil company, left along with vice president of crude trading Carlos Islas and vice president of oil analysis Alfonso Mendoza, according to four people.

The departures were sparked by a disagreement within the company over an external review of new formulas created to price oil sales to refiners in the U.S. and elsewhere, two of the people said. Pemex CEO Octavio Romero raised questions about the marketing of Mexico’s crude by PMI’s management team, two people said.

Briones didn’t respond to calls and emails seeking comment, while Islas and Mendoza didn’t respond to emails seeking comment. Pemex didn’t respond to requests for comment.

The review has caused delays in presenting the pricing to customers. The new formulas for pricing the nation’s crude seek to eliminate fuel oil as a result of new regulations issue by the International Maritime Organization, known as IMO 2020, that require ships to burn cleaner fuels from January of next year. It is expected to push down prices by reducing the demand for fuel oil.

The formulas underpin not only all physical crude sales made by Pemex, but also Mexico’s annual sovereign hedge, the largest of its kind. The delay in finalizing the formula could complicate banks’ efforts to mitigate their risk from the hedge, as they need to use a combination of liquid oil futures and options.

Mexico’s President Andres Manuel Lopez Obrador has staunchly opposed his predecessor’s policies and suspended competitive oil auctions and joint-venture agreements with Pemex in its oil fields. His more nationalistic energy policy seeks to make Mexico self-sufficient in fuel production and reduce the influence of global oil markets.

The country, which has been struggling to turn around an extended decline in oil production, exported 1.08 MMbpd of crude in August, government data show. Oil revenue accounted for about 16% of federal government income in the second quarter, according to Finance Ministry data. That’s down from more than 30% at the start of the presidency of AMLO’s predecessor, Enrique Pena Nieto, before a tax overhaul and an acceleration in the output drop.

主站蜘蛛池模板: 最新浮力影院地址第一页| 国产成人无码免费视频97 | 亚洲狠狠婷婷综合久久蜜芽| 一本一本久久a久久综合精品蜜桃| 综合激情区视频一区视频二区| 播播开心激情网| 午夜精品一区二区三区在线观看 | a成人毛片免费观看| 狠狠色狠狠色综合日日五| 在线播放无码高潮的视频| 亚洲白色白色在线播放| 91久久打屁股调教网站| 欧美性xxxx极品高清| 久热这里只精品99国产6_99| 香蕉高清免费永久在线视频| 日美韩电影免费看| 国产h视频在线观看| 三年片韩国在线观看| 男女抽搐一进一出无遮挡| 在线观看黄网址| 亚洲国产精品嫩草影院久久| 国产精品嫩草影院人体模特| 日本欧美视频在线观看| 四虎影院最新域名| а√天堂中文资源| 波多野结衣中文字幕一区二区三区 | 日韩中文字幕免费视频| 国产一区二区三精品久久久无广告| 两根大肉大捧一进一出好爽视频| 精品人妻潮喷久久久又裸又黄| 大学生秘书胯下吞吐| 亚洲国产成人久久综合碰 | 国产h视频在线观看网站免费| 日本免费网站在线观看| 十七岁高清在线观看| 97色偷偷色噜噜狠狠爱网站97| 欧美一区二区在线观看免费网站| 国产内射xxxxx在线| 一个人看的www免费高清中文字幕| 波多野结衣中文在线播放| 国产欧美在线不卡|