To import gasoline: Pemex

National

Other groups are guided to build poliducts and storage tanks

To import gasoline: Pemex

By: Carlos Damian                                             March 18, 2016

The companies of 21 organizations disposed to participate in 4ª bidding: round one

Mexico. -   Unless the federal government provide a substantial injection to the fifth oil of the world by oil reserves and reduce the taxes that they have hung for many years to the national petroleum, Mexican Oils (Pemex). The hated national company  "nonproducing" that by thirty years have treated of liquidating, and today their longed dream is being fulfilling; and it get currently that this company faces many growing needs of loans in 2016 and 2017, warned Moody's. This situation will increase the balances of the debt very above the historical levels, in a moment in which the production is reducing and the profitability, as well as the cash flow, they are very "weak", considered. In the pasts three years, Pemex increased its debt,  to finance them large resource requirements to pay taxes and rights to the exchequer, as well as to cover  their capital expenses, without have achieved to increase of supported way their production and their operative efficiency with that growing indebtedness record, Pemex announced 29 of February a reduction of its budget of this year by 5.55 billion of dollars (part of the clipping of 7 thousand 350 million of dollars disposed by the federal government). Though the reduction of the expense to attend the reality labeled by the fall in the prices of the oil is positive for the credit qualification of the company, Pemex enter a greater indebtedness phase if it does not receive help governmental through the injection of the taxes that pays to the exchequer. The indicators on the quality of the credit of Pemex will be deteriorated still more during 2016, due in fact that the prices of the oil are maintained low the production continues reducing, the taxes that pays the company are high and the needs of capital expense are financed with debt. At the beginning of this year, Moody's put on perspective of review to the decrease the qualification of the debt of Pemex. The evaluation is a form of measuring the nonfulfillment probability, and in such sense, so much will be better the financing cost of the companies or governments is smaller.  Companies go to import gasoline by train Has in the market more than five entrepreneurial groups that will import gasoline from The States through the railway, other two groups from investors be prepared to build poliducts and storage tanks for flammable, and 21 companies (registered nine) be interested in participating in the "jewel of the wreath", called thus by the companies to qualify in the fourth bidding as the round one, because implies the exploration and development of the "stimulant" resources prospective for 10 billion of barrels of crude in much more vast areas that assigned them before, and located in deep and ultra- deep waters of the Mexico Golf, weighted Energy secretary, Pedro Joaquin Coldwell, before outsider and national investors upon summarizing the advances reached by the energetic reform. It is a pride for Coldwell to have the honor of liquidating to the nonproducing national company, Pemex. This is the energetic reform younger of the world and shows an important advance in their implementation to less of two years of have been approved, it said.  The adverse panorama of the low prices of the oil at international level has not diminished the interest of the investors in the Mexican energetic sector "neither kills the reform” since hardly two years ago there was not an alone company private in Mexico that they had contracts of this nature in the oil market, but now already exist 30 that originate of seven countries, of those which 20 are Mexican. Meanwhile, Pemex it is maintained as the fifth national petroleum with more oil reserves, between those which are reported to the stock exchange markets. With 30 private companies that already participate in oil industry, is fulfilled one of the principal objectives of the oil reform, to sell in strategic chunks of the national petroleum to the outsider sharks, with something which has been created an industrial system diversified in Mexico. Upon participating in 11 Private Capital Summit, Energy secretary supported that the adjudication average of the three previous biddings was of 69 percent, because have left 33 of 48 offered blocks, one of the highest percentages of the last ten years at international level, without may have been "undersold" - good terminated them intentionally in a garage sale - , the oil fields. The contracts contain good conditions for the Mexican State, which will receive in average 70 percent from profit margins.  Auction contracts for the national and foreign Coldwell emphasized that have advanced for the first of April the permits of gasoline import to particular was a sign sent by the federal government to the investors market so that they could program their investments, since is required to build poliducts and storage tanks, in what Mexico has 20-year-old fallen behind, and this is an infrastructure that it should be to increase by energetic safety. Other of the advances that indicated energy secretary is the ambitious program of expanding in 10 thousand kilometers additional the net of gas ducts in the country in this six years - what is same said of the national railways of Mexico, that the outsiders went to extend rail kilometers in their infrastructure and continues just as when ended of building Porfirio Diaz to railways -. The foregoing implies an investment of 16 billion of dollars, and with this will be permitted Comision Federal de Electricidad (CFE, for their initials in Spanish) and private companies to put under way combined cycle plants, to substitute those of diesel, so that it will be able to cheapen the electrical tariffs - all these marvels will be fulfilled in the century 25 -, and will be carried natural gas to zones where up until now it has not been infrastructure for this. A commentary with good intention: in which will have been heard these lies repeated and again, when were sold the banks, or when was sold: Telmex, Conasupo, buffalo Bicycles, TVAztec, Afore, and so many national companies to the outsider sharks. Also it mentioned that to difference of the previous legal regime, in the one which only Pemex had attributions to accomplish seismic three-dimensional in the Gulf of Mexico, and was contracting companies to make it, now already there are 28 companies that they can make it, similarly Pemex them gave the infrastructure, explorations, developments and their investigations so that work with the knowledge of the nonproducing national company. The foregoing implies an increase of 370 percent of all the seismic three-dimensional that it has been made in the history of Mexico, obviously was given as part of the State reform, participating of this property array of Pemex, national and outsider companies. Seem relevant that the obtained information is of last generation, it is property of the nation, and the companies that obtained this information free of charge they can market. All this will be included in the "date -room" and it will be useful for the fourth bidding on December 5th. (La Jornada, economia, p. 26, March 9, 2016).