Page 4 - LatAmOil Week 38 2021

COMMENTAR
LatAmOil COMMENTARY Y LatAmOil

Tuxpan fuel depot (Photo: Grupo Cobra)
More trouble for private

companies in Mexico

CRE officials appear to have developed a new procedural tool to

suspend operations at independent storage and transport facilities

MEXICO’S Energy Regulatory Commission Tuxpan, a port in Veracruz State on the Gulf of
(CRE) has already forced several privately Mexico.
WHAT: owned petroleum product terminals to sus- CRE reportedly issued the order on Septem-
Fuel storage and import pend operations this year, ostensibly in an effort ber 13 on the grounds that Monterra had not
facilities in Tuxpan were to curb corruption but also in response to the been able to produce required documentation
reportedly forced to sus- current government’s efforts to give state-owned during the course of an audit.
pend operations earlier companies an edge over competitors. To date, neither the commission nor the
this month. So far, most of these shutdowns have involved company has commented on the matter, and it
onshore facilities such as the truck-loading is still not clear how long the terminal, which is
WHY: terminal in Puebla State owned by IEnova, capable of storing 2.2mn barrels of petroleum
Tuxpan is one of the main the Mexican subsidiary of US-based Sempra products, is likely to remain closed. (Nor is it
entry points for gasoline
deliveries to Mexico. Energy. Earlier this month, though, CRE tar- clear whether the closure affected all of the ter-
geted a fuel depot near a key coastal facility in minal or just part of it, Argus Media pointed out
WHAT NEXT: a move that has the potential to disrupt supply last week.)
Disrupting imports could chains in the domestic fuel market. This uncertainty appears to have made an
lead to fuel shortages on impression, as one fuel supply director for a
the domestic market. Trouble in Tuxpan private sector Mexican company told Argus
According to press reports, representatives of Media that no one knew what might happen
the commission ordered Monterra Energy, a next. “It has been closed until further notice,” he
privately-owned US-based company, to sus- remarked last week. “You do not know if that is
pend operations at its fuel storage terminal near an hour, a week, a month or a year.”

P4 www. NEWSBASE .com Week 38 23•September•2021