For further reading on the subject of yesterday’s post, you can check out this article on Romero Deschamps’ reaction to his exclusion from the Pemex Board of Directors in El Occidental, or this comparison between “La Quina” and Deschamps put together by ADN Político.
Energy reform has passed in the Mexican [...]Continue Reading →
After four months of debate, negotiation and controversy following the official announcement of the executive energy reform proposal back in early August, it appears that a workable agreement has been reached between the two dominating parties in Mexico’s legislative chambers (the center-right ruling party Partido Revolucionario Institucional, or PRI, and the right-leaning Partido [...]Continue Reading →
It emerged last week that plans to invest USD 11bn in a refinery plant in Tula were removed from the Pemex 2014-2018 Business Plan, following fears that the level of investment could place the NOC under untenable pressure. The refinery, which was widely regarded as former President Calderón’s flagship project, requires the collaboration of the [...]Continue Reading →
The proposals for reform hold great potential in terms of helping Mexico establish Pemex as a global leader in the oil and gas industry. However, the constitutional changes will not spell out exactly how foreign oil and gas investment in Mexico will proceed. The Proposal drafted by the current administration refers to ‘profit sharing’ agreements [...]Continue Reading →
Pedro Joaquín Coldwell, the energy minister, announced that should the energy reforms be approved without amendments, there will be gas stations in the market that do not belong to Pemex. He went on to explain that this would allow companies that have access to refineries locally, such as Shell and BP, to commercialise their products, [...]Continue Reading →
Responding to what is now a mounting and deafening public argument between politicians, economists, analysts, columnists and activists, Mexican president Enrique Peña Nieto announced on twitter he was postponing his official unveiling of the PRI’s proposal for energy reform until next week. One could argue, however, that this unveiling is merely a political gesture, since [...]Continue Reading →