New entrants into the Mexican oil energy industry are set to face challenges before their ventures can turn into profitable businesses. These newbies are aiming to diversify the market, which for a long time was served by Pemex. If their efforts bear fruit, Mexico will overcome the Cantarell, a catastrophe that drastically reduced the rate of daily oil production. For Pemex, their long-held monopoly is in its dying stages.
Most of the new firms already own oil wells. However, before drilling starts, they have to resolve land ownership disputes that Pemex left unresolved, as in the case of Cotemar in Veracruz. Additionally, some of the franchises are still waiting for operational licenses. Other challenges to be overcome include burglary of infrastructure and organized crimes. Despite these obstacles, the future’s bright for the Mexican oil energy industry.
The issuance of deep-water tenders will be a difficult task to the Mexican government. For the exploration to be viable, tax and royalty rates will have to rise. The number of petroleum barrels produced per day must also increase if the project is to be financially feasible. These reforms are being implemented to reduce the overreliance on Pemex in the case of financial difficulties. Furthermore, the adjustments are meant to create favorable conditions for new investors in the petroleum mining sector.
Anti-pollution regulations imposed by international environmental bodies have hastened the process of formulating relevant legislature. These reforms will eventually attract the global big boys in oil mining, but as we wait for that to happen, it is time for the local companies to delve into the business. That said, a revolution in the Mexican energy sector is surely underway.
Cotemar provides services to offshore oil mining companies. Through their customized ships, they offer catering services, transport services, and energy solutions to their clients. In addition to these, they also have towing boats for moving oil rigs, and full and modern firefighting equipment. Moreover, they also include lodging amenities in their service portfolio.
Since its inception in 1979, Cotemar has always maintained a good rapport with its clients. They employ excellent staff who avail exemplary services to their clientele. Their excellent services have been certified by Pemex, who is the largest consumer of their products. For close to four decades, Cotemar has been the leading provider of offshore services in Mexico.
The revolution in the oil industry offers promise to institutions such as Cotemar. With the number of players set to increase, the firm will enjoy a broader customer base. This will, in turn, translate into higher returns.