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Sep 11, 2014

Grupo Mexico dodges mine closure with $151 million toxic spill fund

MEXICO CITY (Reuters) – Grupo Mexico and its subsidiaries on Thursday dodged losing a concession to run one of the biggest copper mines in the world as long as they comply with government obligations following a toxic spill that include creating a $151 million clean-up fund.

The fund is far bigger than a $23 million reserve that Grupo Mexico had previously set aside for the clean-up at Buenavista copper mine. The government said Grupo Mexico could face fines totaling 44.5 million pesos ($3.37 million).

Aug 26, 2014

U.S. readies duties on Mexican sugar in win for sugar lobby

MEXICO CITY/WASHINGTON, Aug 26 (Reuters) – The United States
is set to slap import duties as high as 17 percent on Mexican
sugar in a victory for the powerful U.S. sugar industry but a
blow to U.S. candy and soft drink makers who face paying more
for the sweetener.

Mexican producers urged a deal to end the spat while the
government hinted at retaliation, highlighting the potential for
Tuesday’s Department of Commerce ruling to increase tensions in
a months-long trade dispute over claims cheap subsidized sugar
is flooding the heavily protected U.S. market.

Aug 26, 2014

U.S. readies duties on Mexican sugar, prices tipped to rise

MEXICO CITY/WASHINGTON, Aug 26 (Reuters) – The United States
is set to slap import duties on Mexican sugar in a move that
could push up candy and soft drink prices for U.S. consumers and
incite retaliation from Mexico, which is keen to agree a deal to
avoid the new levies.

The duties announced by the U.S. Department of Commerce on
Tuesday will bolster prices for U.S. sugar but mean companies
like sweet makers Hershey Co and Mondelez International
Inc will have to pay up to 5 cents per pound extra for
imported sweetener, based on current refined sugar prices of
around 30 cents per pound.

Aug 26, 2014

U.S. slaps duties on Mexican sugar imports, may push up prices

MEXICO CITY (Reuters) – The United States will slap anti-subsidy import duties on Mexican sugar, sources said on Tuesday, a move that could push up candy and soft drink prices for U.S. consumers and incite retaliation from Mexico on other products.

The duties, if confirmed, will bolster prices for U.S. sugar but mean companies like candy makers Hershey Co and Mondelez International Inc will have to pay more for imported sweetener.

Aug 26, 2014

U.S. sets preliminary anti-subsidy duties on Mexican sugar imports

MEXICO CITY, Aug 26 (Reuters) – The United States is set to
slap anti-subsidy import duties on Mexican sugar after a
preliminary decision expected to be formally announced later on
Tuesday, the president of Mexico’s sugar chamber said ahead of
the ruling.

The decision to slap duties on sugar imports from Mexico is
backed by U.S. sugar industry complaints of unfair competition
from subsidized sweeteners in the industry’s first trade case in
decades.

Aug 22, 2014

Mexico’s Alfa to seek onshore mature oil field tie-ups with Pemex

MEXICO CITY, Aug 22 (Reuters) – Mexican industrial
conglomerate Alfa will seek next year to enter into
joint ventures with national oil company Pemex, particularly in
three onshore mature fields, the company’s top energy executive
said on Friday.

The Monterrey-based company will also dramatically ramp up
its electricity generation over the next five years in the wake
of a major energy sector overhaul, Raul Millares, Alfa’s energy
director, said in an interview.

Aug 7, 2014

Energy reform approved, Mexico to speed up deals with Big Oil -source

MEXICO CITY, Aug 7 (Reuters) – After a months-long delay in
passage of a landmark overhaul of Mexico’s state-run energy
sector, the government now plans to accelerate the timetable for
inking joint ventures with private oil firms to reverse a slump
in oil output, a senior government official said.

Mexico’s Congress put the finishing touches on an
energy-policy revamp on Wednesday night, approving bills that
implement a reform that ends the decades-old monopolies of
state-owned oil company Pemex and national power
company CFE and aims to lure billions of dollars in
investment.

Jul 1, 2014

Mexico oil contracts set to be delayed: official

MEXICO CITY (Reuters) – The first big set of contracts for oil and gas development in Mexico are likely to be delayed a few months, an energy ministry official said on Tuesday, after disagreements in Congress over detailed legislation to underpin them.

Congress is currently discussing so-called secondary laws, including some new rules and amendments to existing ones, needed to set in motion a landmark energy reform passed in December to open up the oil and gas industry to private capital.

May 20, 2014

Mexico’s national power utility plans natural gas sales

MEXICO CITY (Reuters) – Mexico’s state-owned power utility plans to start selling natural gas to the private sector for the first time as it builds new pipelines, the company’s top executive said.

Industrial consumers would be the target market for the sales, Enrique Ochoa, chief executive officer of the Federal Electricity Commission, or CFE, told Reuters late on Monday.

Apr 15, 2014

Exclusive: Pemex refineries to boost output in 2014, maintenance peaks in October, November

MEXICO CITY (Reuters) – Refineries owned by Mexico’s state-run oil company Pemex will boost crude processing volumes to their highest rate in five years in 2014, with maintenance work peaking in late autumn, according to a company plan seen by Reuters.

The company’s six domestic plants are expected to process an average of 1.248 million barrels per day (bpd) this year, or 79.2 percent of their combined capacity, according to a Reuters analysis based on a scheduled turnaround plan for this year.