Tuesday, 29 January 2019 16:51

Well Drilling to Grow in Mexico, López Obrador Announced

Written by PL
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Oil well drilling will increase from 50 at present to 150 this year, Mexican President Andrés Manuel López Obrador announced Tuesday.

 

Mexico.- In his morning press conference at the National Palace, the President said that simultaneously will continue to process crude oil to also increase levels of refining and reduce fuel imports.

He considered that the oil issue is a priority for his government and criticized those who supported an energy reform never met the targets announced by its advocates and, on the contrary, sank the sector and let Pemex in the desert.

Its founders, he said, are quiet, they have not made a public excuse, they do not say anything, and they made a serious mistake in trusting that foreign investment would arrive when they hand out contracts with the so-called oil rounds.

The reality is, he pointed out, that out of the 207 contracts they delivered, not a single oil barrel has been produced because there has been no investment.

They were wrong to trust foreign money to come and not make public investment in the sector, so they left Pemex in crisis, alone, deserted, but now we are going to solve this problem and we are going to produce more oil and surpass the 1,800,000 barrels a day.

This means we are going to stop the drop in crude oil production and refining and we are going to increase them both, for which we have an additional plan. Everything we collect in the fight against the fuel theft goes to Pemex and we are going to recover 50 billion pesos ( 2.5 billion dollars).

He announced that Monday was the day with the least fuel stolen in the history of Pemex. But, be careful, because we are going to announce other measures to help it because it is one of the world's oil companies paying the most taxes. We will look for more money to invest because it is a basic national industry. (PL)

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