OPEC warns to improve investments in hydrocarbon extraction

As oil demand has been on the rise in recent years, OPEC has spoken out about this, the secretary general of the Organization of the Petroleum Exporting Countries (OPEC), Haithman Al Ghais, mentioned that there is remarkable optimism regarding oil demand and warned about the risks to energy security due to the lack of investment in the industry. “We are facing limitations in our spare capacity, as we have mentioned on several occasions. This requires a joint effort by all parties involved to recognize the importance of investing in this industry,” he stressed.
Given this need, Mexico will have to continue to face technical and logistical challenges if it is to meet its production goals by the end of this year.
But the recent demonstrations by private companies have left several questions in the air, such as the debt that Petróleos Mexicanos has with private oil companies, since according to AMESPAC, its debt to date is close to 14 billion dollars to companies that provide services to it. Due to this delay, the companies point out that the production of hydrocarbons will be affected this year, and the situation will worsen for next year, if Pemex does not regularize with the payment. For the last two months Pemex has limited itself to publish information about its debts with suppliers and contractors, so the exact amount is unknown until this month. As a result of this, several companies have mentioned that this hinders their operations and leaves them in a situation of unsustainability, which in time would also affect well drilling services, and would result in a reduction of up to 200 thousand barrels per day of production. With these prospects, the goals that Pemex has set for the end of the year are being questioned, and it is also expected that the state-owned company will make a statement on the matter, since these are undoubtedly scenarios of relevance for national energy security.
Note complemented with the article from Oil & Gas Magazine, by its editorial team.