As of Thursday, Petróleos Mexicanos (Pemex) will no longer have commercial control of the hydrocarbon, petrochemical and oil market, that is, it will not be able to set reference prices.
In accordance with the Decree that amends the Thirteenth Transitory Article of the Hydrocarbons Law, which was published in the Official Gazette of the Federation today, when there is greater participation of economic agents or companies, it is left without effect the power of the Energy Regulatory Commission to subject prices to first-hand sales made by Pemex.
Previously, first-hand sales of hydrocarbons, petroleum products and petrochemicals were subject to the principles of asymmetric regulation, but with this Decree that comes into force tomorrow, Thursday, the commercialization will not be subject to price control.
The energy specialist, Ramses Pech, affirmed that by eliminating the Thirteenth Transitory “the marketing permits must be non-discriminatory, as there is no longer a controlled market at first-hand prices or biased to what Pemex issued at the time.”
For this reason, “the permits of a marketer, should not be limited to a volume of sales in a period, and that with it leads to its cancellation”.
He affirmed that in other words “Pemex does not have commercial control of the total market of these three sectors, this eliminates their preponderance”.
He considered that the hydrocarbon and petrochemical markets can mature, that is, cease to be controlled by the internal and external market. However, in the oil sector, it will be difficult for the market to mature due to the control that the Ministry of Finance has.