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Octavio Romero prepares suitcases; he will leave Pemex
The Finance area prepares a package with information on the state of the oil company with a cutoff of
July 31, 2023
Ulises Juarez by Ulises Juarez August 16, 2023
Octavio Romero Oropeza, could be preparing his departure from Petróleos Mexicanos (Pemex) after holding the position since December 2018, to pass the baton to Sergio Ayala Salvio, current corporate director of Operations of the state company.
At the moment, the team of the still CEO would be putting together a package with the financial documentation and reports on the state of the company with a cut-off of July 31, 2023.
The Pemex Corporate Finance Department received the instruction yesterday from Romero Oropeza's office to prepare information on bank accounts, details of liabilities, labor fund balances, budget exercise reports and liquidated tax obligations, all dated to the last day of the seventh month.
Likewise, the General Directorate of the State productive company would have required a scheduled list of the pending resources to be exercised and fiscal obligations to be settled, among much other information, revealed last night sources who requested anonymity .
"Although this is supposed to be delivered monthly, they are emphasizing a cut-off date," said one of the sources with knowledge of the information integration process.
"Today they asked them for information that is only delivered when there is a change of administration," added another for Energía a Debate.
Yesterday, a letter signed by the President of the Republic, Andrés Manuel López Obrador, addressed to Sergio Ayala Salvio , with the Subject "Appointment of C. Sergio Ayala Salvio" and dated August 14, 2023, circulated on social networks. , in which he would explain the reasons why the delivery-reception process between the teams of Romero Oropeza and Ayala has been delayed.
“Through this channel, I allow myself to make you fully aware that in relation to Official Letter of the Presidency-120/23/260 dated July 24 of this year, where I express my decision to appoint you General Director of Petróleos Mexicanos. Said appointment remains valid and in force, however, due to issues of the delivery-reception process that will have to be carried out once the current General Directorate of PEMEX has the documentation and reports that will be delivered to you and your collaborators in full order," it was stated . read in the first paragraph.
Later, in the document, the chief executive states that Romero Oropeza is aware of the delay and that both teams agreed to a new term of at least 15 additional business days for the delivery-reception process, although he does not mention as of when.
The document has marked copies for Alejandro Esquer Verdugo, private secretary of President López Obrador; Luisa María Alcalde, Secretary of the Interior, and Octavio Romero Oropeza himself in his capacity as director general of Pemex.
Shortly after this document with number Presidencia-190/28/303 was circulating on social networks, a fragment of a video also appeared on them where Ayala Salvio can be seen – who is also general secretary of the Union of Oil Workers of the Republic of Mexico (STPRM)– accompanied by several people in an office environment. An unidentified character reads the aforementioned office aloud. At the end of the reading, everyone applauds as a sign of celebration.
The facilities correspond to the Maney & González-Félix PC law firm , owned by partners Miguel Ángel González Félix, Roberto Keoseyan Arakelian and Fernando Heftye, residing in the Polanco area, Miguel Hidalgo Mayor's Office in Mexico City.
The law firm, with a presence in Mexico City and Houston, United States, boasts among its clients the Mexican government, Pemex, the Federal Electricity Commission (CFE) and even the North American energy company ENRON.
Until the closing of this note, Pemex did not officially confirm the veracity of the official letter signed by President López Obrador, nor of the video in which Ayala Salvio appears in the offices of the legal firm.
However, the newspaper El Universal, in its digital version, reported that Pemex's Social Communication area assured him that "Octavio Romero Oropeza continues and is firm in the position."
After the governorship of Tabasco
Since 2022, in the political sphere, the version has increased that Octavio Romero Oropeza, a native of Jalapa, Tabasco, aspires to govern the entity that saw him born.
Romero Oropeza, an agronomist by profession, is one of the president's most trusted figures, his countryman and friend. When López Obrador was head of government of the country's capital, the still head of Pemex served as his Senior Officer, that is, the one who managed the city's money.
It should be remembered that on the afternoon of June 13, the federal chief executive summoned the members of his legal and extended cabinet to his offices in the National Palace to find out, with a view to next year's elections, at once, who will will remain in his current position and who will leave him to seek a candidacy for one of the popularly elected positions.
In addition to the Presidency of the Republic, the two Chambers of the Congress of the Union, 9 governorships, including that of Tabasco, and local congresses will be renewed.
In fact, within the framework of the 2022 Mexican Petroleum Congress (CMP), held in July of that year in Villahermosa, Tabasco, Octavio Romero told the attendees that, at that time, he had not defined his candidacy to govern his entity and insisted in which the times had to be respected.
However, in his message, he left the door open to the possibility of running.
"I think that all of us politicians who are in faculties always have the idea of ??what we can serve, what we can offer our faculty, if we have it," he said in a crowded room at the Tabasco 2000 convention center.
"If the answer goes in the sense of whether there is an interest, I don't think there is anyone who does not have an interest, having the possibility and the faculty," he added.
The still functionary would seek the governorship of Tabasco for the official party Movimiento de Regeneración Nacional (Morena).
https://energiaadebate.com/octavio-romero-prepara-maletas-dejara-pemex/
PINK CURRENT!!!!
Adolfo has two Facebook profiles and he doesn’t always post equally to them. The names are:
Adolfo Voorduin Frappe
Adolfo Voorduin
In Mexico.......everyone is a part of the Cartel!!! EVEN AMLO!
2nd update from Adolfo:
"It's also worth it!!! Let's eat and celebrate."
https://scontent-ord5-2.xx.fbcdn.net/v/t39.30808-6/352705485_10159463960363366_5014631760814810329_n.jpg?_nc_cat=104&ccb=1-7&_nc_sid=8bfeb9&_nc_ohc=-sbliWQ5LrUAX8Cebw6&_nc_ht=scontent-ord5-2.xx&oh=00_AfCAynMLpmsj_jtuXj3QOzjQBdP3ji6JL7GDg8H1rvXX1A&oe=6487E671
1st update from Adolfo:
"Following up on our projects!!! We keep moving forward."
https://scontent-ord5-2.xx.fbcdn.net/v/t39.30808-6/352719332_10159463930048366_4719561911529965499_n.jpg?stp=cp6_dst-jpg&_nc_cat=110&ccb=1-7&_nc_sid=8bfeb9&_nc_ohc=l8_yuKW3qMUAX_yKBhK&_nc_ht=scontent-ord5-2.xx&oh=00_AfAYZPey6g46QR9Jf5h0Y2ZTokR3wAP2Qyj7VPC5BnzgMg&oe=648800A4
But doesn't that just mean that, besides the price going down up until the divy date, that it will tank as soon as the shareholders get their free shares and do a mass selloff???
Isn't the dividend just dilution by another name???
Dime by Friday???
Looking for a black Ferrari on the cheap. Know anybody looking to sell one??? LOL
That's what I worried about when it fell 20 cents. Still managed to dig over halfway out. Hopefully the sun will come out tomorrow!!!
What do the charts say......still think we can make it to green today? I think it might be pretty tough.
I hope you're right but it's going to be a long climb back up to go green.....
I am asking you if he is down there???
So Waldo is down in Mexico right now? I thought he was going to be there this week.
He was also seen walking outside the palace yesterday!
Does anybody know where Ward is? Is he still down in Mexico?
Is Ward still in Mexico?
Outgoing Trump Officials Warn of ‘Significant Uncertainty’ in Mexico Energy Sector
BY CHRISTOPHER LENTON
January 19, 2021
Members of the outgoing administration of President Trump have sent a letter to Mexican counterparts, including Energy Minister Rocío Nahle, admonishing regulatory changes they said are damaging Mexico’s investment climate.
The letter, signed last week by U.S. Secretary of State Michael Pompeo, Energy Secretary Dan Brouillette and Commerce Secretary Wilbur Ross indicated that recent government directives to regulators that favor state-owned companies create “significant uncertainty” in Mexico’s energy sector.
“In addition to harming several U.S.-backed private sector projects across the energy sector, these measures could adversely affect hundreds of millions of dollars of U.S. government public energy investments in Mexico made through the U.S. International Development Finance Corp., the Export-Import Bank of the United States and U.S. and Mexican public investments via the North American Development Bank,” the letter said.
The changes could also violate Mexico’s obligations as outlined in the United States-Mexico-Canada-Agreement, or USMCA.
Last June, U.S. officials were warned by American Petroleum Institute (API) President Mike Sommers of regulatory moves in the Mexican energy sector that were “inconstantly applied or inconsistent with past practice.”
Since President Andrés Manuel López Obrador took office in December 2018, Mexico’s energy sector regulators have been stunted by budget cuts, layoffs and resignations of senior officials.
Montserrat Ramiro, commissioner for regulator Comisión Reguladora de Energia (CRE) from 2015-2019 who resigned amid the changes, suggested that the Mexican president is following through on his campaign promises.
“This administration has an objective, whether or not we understand it as rational, to strengthen the state-owned companies in a way that is neither financial nor operational,” she told NGI’s Mexico GPI. “What they truly think is that the market shouldn’t exist; that the energy sector shouldn’t be open to competition; and that the state companies should be the sole providers of service.”
Last July, López Obrador sent a memorandum to energy regulators specifically asking them to work to strengthen state firms Petróleos Mexicanos (Pemex) and Comisión Federal de Electricidad (CFE). This was followed more recently by restrictive rules on import and export permits for hydrocarbons, and a plan to fold the regulators and competition watchdog Comisión Federal de Competencia Económica (Cofece) into existing ministries.
Cofece has proven to be one of the few effective counterweights against López Obrador’s more controversial energy policies.
The letter from the U.S. officials “could have been sent a year ago, because nothing has really changed between a year ago and now,” Ramiro said. “The problem is that I think everybody, including some people from the U.S. policy side, thought that the economic rationality of closing the energy sector wasn’t a real possibility. What this letter proves is that, finally, and maybe a day late and a dollar short, they are realizing that the current policy doesn’t think in terms of economic rationality.”
According to the president of the Energy Cluster of Nuevo León trade group, Cesar Cadena, the new permitting rules on imports and exports of hydrocarbons shut out Mexican companies from the market, leaving only Pemex and those U.S. firms that have already secured long-term permits as players.
“Legally, there is very little we can do,” he said at the virtual 6th Mexico Infrastructure Projects Forum on Tuesday. He said decisions on permits in the energy sector now rest with Energy Ministry Sener, and it bases its reasoning on notions of energy sovereignty and “energy balance.”
Permitting in the energy sector had already been slowed by the coronavirus, with Sener closed to business since March. This week, CRE also said it was suspending activities because of health risks associated with the coronavirus.
“Legal appeals take time,” Cadena said. However, “before, if you asked for a permit, and the response time was slow, it was automatically given. Now if the authority doesn’t respond to you, it’s automatically a no.”
https://www.naturalgasintel.com/outgoing-trump-officials-warn-of-significant-uncertainty-in-mexico-energy-sector/
TC Halts Keystone XL Pipeline Work in Advance of Expected Biden EO
BY GORDON JAREMKO
January 20, 2021
TC Energy Corp. called an immediate halt today to work on Keystone XL (KXL) as President Biden was expected to keep an election promise to revoke the U.S. construction permit for the $8 billion oil pipeline on Wednesday.
“Advancement of the project will be suspended,” said the Calgary firm. Unless attempts to recover costs to date succeed, the halt “could result in a substantive, predominantly noncash after-tax charge to earnings in first quarter 2021,” said TC.
While Alberta Premier Jason Kenney said only days ago that a strong legal claim existed for damages from the U.S. government, the pipeline company’s management team made no predictions and stopped short of declaring a commitment to launch a lawsuit.
Instead of specifying next steps, “TC Energy will review the decision, assess its implications and consider its options” the company said in announcing the KXL stoppage.
The company echoed an outpouring of regret from Kenney and the Canadian fossil fuel industry over the potential loss of the proposed 830,000 b/d growth enabler for the nation’s top natural gas user, Alberta thermal oilsands production.
A decision by President Biden to revoke the presidential permit “would overturn an unprecedented, comprehensive regulatory process that lasted more than a decade and repeatedly concluded the pipeline would transport much needed energy in an environmentally responsible way while enhancing North American energy security,” TC said.
“The action would directly lead to the layoff of thousands of union workers and negatively impact ground-breaking industry commitments to use new renewable energy” for power pipeline pumps, “as well as historic equity partnerships with Indigenous communities.”
TC unveiled an agreement to ensure KXL could be powered by renewable resources. The agreement with the North America’s Building Trades Unions (NABTU) as structured would allow the system’s pumps to run entirely on renewable supplies with $1.7 billion in net-zero power stations.
Industry analysts called the possible Keystone XL cancelation “collateral damage” to the new U.S. Democrat administration’s declared policy of promoting energy transition off fossil fuels as well as the need for the president to keep support from his party’s environmental activists.
https://www.naturalgasintel.com/tc-halts-keystone-xl-pipeline-work-in-advance-of-expected-biden-eo/
By the end of the week we could be back in the teens......
Does anyone know where Ward is right now???
If AMLO thinks that they can save PEMEX then I have some Natural Gas to sell him!!!
Is Ward down in Mexico right now?
I would assume that, "if materials are ordered" then they would have to announce it because there is no way that he would be able to order without funding. Thus, the funding would have to be announced!
Looks like Sempra got to make a big announcement after those 29 new projects got announced. Hopefully Mirage will get to announce something big SOON!!!
Sempra to buy remaining stake in Mexican unit in $6.13 billion deal
(Reuters) - Sempra Energy said on Wednesday it would buy the remaining stake in a Mexican unit in a deal valued at $6.13 billion as it eyes new investments in renewables and energy storage amid growing global demand for cleaner fuels.
The company currently owns 66.43% of Infraestructura Energética Nova SAB de CV (IEnova), according to Refinitiv Eikon data, and its all-share offer for the rest implies a 15.2% premium to the stock’s closing price on the Mexican exchange.
The deal comes shortly after the Mexican government unveiled a second package of 29 infrastructure investments worth some 228 billion pesos ($11.36 billion), aimed at lifting the nation’s ailing economy.
The package included Costa Azul, a $2 billion LNG export plant being built by a Sempra unit in the country’s Baja California area. The proposed plant is one of the biggest privately funded energy projects in Mexico and is the only LNG export project to reach a final investment decision this year.
Oil and gas companies around the world have pushed back decisions on new LNG terminals this year after the coronavirus pandemic hammered energy demand and prices, ending a long run of rising LNG investments as Asian countries tried to meet their rising energy demand and diversify fuel sources.
Sempra shares will trade on the Mexican stock exchange following the deal, and the company will combine IEnova with its North American liquefied natural gas export infrastructure unit Sempra LNG, it said.
The company said the new unit, Sempra Infrastructure Partners, would focus on the development and construction of North American LNG export and natural gas infrastructure alongside renewable energy generation.
Sempra will also sell a non-controlling interest in the new unit to fund growth, it said. All transactions are expected to be complete in the first quarter of 2021.
https://www.reuters.com/article/us-ienova-m-a-sempra-usa/sempra-to-buy-remaining-stake-in-mexican-unit-in-6-13-billion-deal-idUSKBN28C1WM[/
09:08 | The morning conference of President Andrés Manuel López Obrador ends .
08:36 | López Obrador said that the Head of Government of CDMX, Claudia Sheinbaum, is doing "a good job" facing the inheritance she received from acts related to organized crime.
08:20 | López Obrador said that "the most difficult thing" in his administration has been the pandemic , which has been very painful. He also pointed out that the second most difficult thing has been the economic crisis, but it was enough to face it with a new formula, supporting those below.
08:00 | The federal president said that the union between the public and private sectors to boost the country's economic growth is something very important. In addition, he pointed out that private companies also participate in public investment projects , since they are hired.
07:52 | They present the progress of the “Felipe Ángeles” airport, the Dos Bocas refinery, Tabasco, Isthmus of Tehuantepec, the Mayan Train, the Mexico-Toluca Interurban Train and the Bosque de Chapultepec.
07:47 | Carlos Salazar Lomelín said that the projects with private investment will generate 400 thousand jobs . He also noted that these projects will reach the highest amount of investment in infrastructure in recent years.
07:40 | The head of the Treasury said that from the first announcement of public and private investment projects on October 5, 10 projects are already underway with an investment of more than 43 thousand million pesos .
07:36 | Arturo Herrera, head of the Treasury, reported that in the 2nd package of projects with Private Investment there will be 29 projects for a total of 228 thousand million pesos in the Transport and Energy sector. The first project is carried out in the State of Mexico for 20 thousand million pesos.
07:33 | Jorge Nuño, head of the Investment Unit of the Ministry of Finance, reported that together with the Private Sector a process was defined to analyze the viability of proposed projects , to establish a route that guarantees their start-up.
07:26 | The head of Profeco revealed the average price of fuels :
Regular gasoline: $ 16.25- $ 20.07
Premium Gasoline: $ 15.78- $ 21.14
Diesel: $ 17.85- $ 20.0
Stationary LP Gas: $ 8.55 / L- $ 12.73 / L
LP Gas Cylinders: $ 16.25 / Kg- $ 23.11 / Kg
07:17 | Ricardo Sheffield, head of the Federal Consumer Prosecutor's Office (Profeco), announced the "Who's Who" in the price of fuel .
07:15 | López Obrador said that today the second investment package with the private initiative will be announced , in addition, he announced that tomorrow, December 1, at 5:00 p.m., he will inform the people of Mexico about the progress of his administration.
07:13 | The morning conference of President Andrés Manuel López Obrador begins .
Where in the world is WALDO??? Is he in Mexico?
Not that I think your doing anything crappy but you showed a history of all of 6 days. Not exactly the best way to prove your point.
This is fun! When is the next cliff drop-off? I feel like I'm watching the yodeler on the Price Is Right. WE NEED THE BEEF WARD!
So we now have nothing definitive to wait for? We used to have exact dates that Mexico would be announcing things or we had rough dates (i.e. end of the month)that Mexico would be doing something. It appears that we don't have anything specific that Mexico will be announcing on a certain timeline. Am I mistaken on that? I'm not talking about "they should be announcing __________ at some unknow point in time". I am talking about the announcement of something with, at the bare minimum, a small range when an announcement will come.
One is not crazy if thy talk to themselves. One IS crazy if thy answer themselves!!!
Does anyone know when Ward goes back to Mexico?
Isthmus Master Plan was supposed to happen last week. Energy projects that involve Mirage supposed to happen today. Neither of which came to fruition. Seems to be par for the course for this stock. Mexico sucks!!!
Some people are the Broncos and get the job done and some people are the Jets and are always last......figured Jetfan might like this analogy!!!
AMLO morning press conference this morning:
"07:55 | The federal president announced that next Monday, October 5, he will present a package of projects with the participation of the private and public sector that "has to do with investment to reactivate the economy and create jobs" in the energy and communications sector."
https://www.unotv.com/nacional/la-mananera-de-amlo-02-de-octubre-de-2020/[/url][tag]insert-text-here
I agree with you on the San Fernando line moving it down to the isthmus area. I suppose it could be included with the Isthmus Master Plan!
How is the storage plan tied to the isthmus master plan? The Brasil storage filed is located much farther north and ties into PEMEX.
End of the month and no news about the isthmus project, like was supposed to happen. Just fantastic..... I can't wait until Monday comes and goes and we still don't get an announcement about the energy infrastructure plan projects.
I mean has anyone seen anything recently in the media detailing that it will still occur next week?