Pemex, Mexico’s state oil giant, squandered 8.7% of its natural gas production during Andrés Manuel López Obrador’s term, report locala media.
This translates to 411 million cubic feet daily, nearly doubling the 4.6% (257 million) lost under Enrique Peña Nieto. From January to September 2024, venting hit 296 million cubic feet daily, or 6.4% of output, down from 7.3% (372 million) in 2023.
This waste stems from Pemex’s failure to meet the Comisión Nacional de Hidrocarburos’ 98% gas utilization rule, set since 2016. The company hasn’t hit this target since 2013, peaking at 13.7% waste in 2021 amid pandemic woes.
Earlier, Peña Nieto’s era saw a high of 9.2% in 2016, later dropping to 3.2% by 2018. Under AMLO, yearly losses averaged over 5%, costing $2 billion annually, says Comener’s Juan Acra.
Flaring and venting release methane, a gas 25 times more potent than carbon dioxide, derailing Mexico’s climate goals. Acra notes this blocks clean energy progress, while Pemex’s $3 billion 2016 plan to curb flaring stalled.
Meanwhile, capturing gas could yield 160 jobs per million cubic feet, vital for Mexico’s economy. Historically, Pemex thrived, once fueling half of Mexico’s revenue, but outdated infrastructure and policy shifts hurt efficiency.
The 2014 Energy Reform ignored gas capture, and AMLO’s oil-first focus deepened losses. Now, new CEO Víctor Rodríguez pledges 99.9% gas use by 2030, targeting methane cuts and energy self-reliance.
Businesses watch closely as Pemex’s $100 billion debt and import reliance clash with its 5 billion cubic feet daily production goal. Rodríguez’s plan hinges on private partnerships and tech upgrades, yet past failures cast doubt. This story matters: wasted gas bleeds money and harms the planet, testing Mexico’s energy future.
More: Mexico news in English, every day from The Rio Times.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error
Read More from The Rio Times