Deriving from the enormous interest shown by the investors towards the liberalization of the oil and gas industry, Mexico’s Ministry of Energy has eliminated the restriction to import gasoline and diesel by private parties as of April 1, 2016.
As set forth by the General Administrative Provisions regulating open access for the storage and pipeline transportation of oil products (GAP), PEMEX and its subsidiary enterprises shall provide to the Energy Regulatory Commission (CRE) an inventory of their storage facilities and transportation pipelines containing their principal characteristics, available capacity and the historical records of the stored and transported volumes therein during the last three years. Such information shall be provided no later than May 11, 2016.
Based on the foregoing, on March 3, 2016, the CRE approved the provisional tariffs for the existing 80 storage facilities owned by Pemex Logistica. Such tariffs will be in force from April 1, 2016, to December 31, 2018.
During the next weeks we expect the CRE to issue the applicable provisional tariffs for the transportation of gasoline in eight pipelines owned by Pemex. What follows is to keep track of the open season procedures to award capacity in Pemex storage and transportation facilities during 2016. We will keep you informed of any update in connection therewith.