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Nov 25, 2014

Exclusive: Pemex to process less oil in 2015 due to refinery maintenance

MEXICO CITY (Reuters) – Refineries owned by Mexico’s state-run oil company Pemex will process 4 percent less crude oil in 2015 compared to this year’s forecast due to planned maintenance peaking in April and August, according to company plans seen by Reuters.

The lowest anticipated runs since 2011 may require Pemex to import more gasoline and diesel, demand for which is rising as the economy grows and the nation’s aging refinery fleet struggles to cope with its mostly heavy slate of Mexican crude, which is more difficult to process into higher-value fuels.

Nov 11, 2014

Shell says most focused on deep water oil projects in Mexico

MEXICO CITY (Reuters) – Royal Dutch Shell, one of the world’s largest oil companies, is most interested in new oil and gas projects in the deep waters of the Gulf of Mexico following a major sector opening finalized earlier this year, a top executive said on Tuesday.

In the near term, Shell is eying potential deep water tie-ups with Mexican oil company Pemex in the Trion and Exploratus fields located within the Perdido Fold Belt, which straddles the U.S.-Mexico maritime border in the Gulf.

Oct 29, 2014

Mexico chamber sees 2014/15 sugar exports to US down over 20 pct

MEXICO CITY, Oct 28 (Reuters) – Mexico expects to export 1.5
million tonnes of sugar to the United States in the current
season following a trade deal struck this week, the country’s
sugar chamber said on Tuesday, signalling a sharp drop from the
previous season.

The forecast compares with an estimated 1.9 million tonnes
during the 2013/14 crop year that ended on Sept. 30, a decline
of more than a fifth.

Oct 28, 2014

Mexico chamber sees sugar exports down more than 20 pct in 2014/15

MEXICO CITY, Oct 28 (Reuters) – Mexico expects to export 1.5
million tonnes of sugar to the United States in the current
season following a trade deal struck this week, the country’s
sugar chamber said on Tuesday, in what would mark a sharp drop
from the previous season.

The forecast export volume compares with an estimated 1.9
million tonnes during the 2013/14 crop year that ended on Sept.
30, or a decline of more than a fifth.

Oct 22, 2014

Mexico seeks one million sugar export floor in trade dispute with U.S

MEXICO CITY (Reuters) – Mexico is seeking a floor on sugar exports of at least 1 million tonnes per year and insists the United States drop anti-dumping claims against its southern neighbor to resolve a sugar trade dispute, a Mexican source close to the talks said on Tuesday.

The comments could signal a renewed willingness by Mexican negotiators to relent to a lower exports minimum just days before U.S. regulators are due to decide whether to slap dumping penalties on Mexican sugar. They also suggest both countries are still in a standoff in the months-long dispute as the lower figure would likely be rejected by the U.S. sugar industry, traders have said.

Oct 21, 2014

Exclusive: Mexico seeks 1 million sugar export floor in trade dispute with U.S.

MEXICO CITY (Reuters) – Mexico is seeking a sugar export floor of at least 1 million tons per year and insists that the United States drop anti-dumping claims against its southern neighbor to resolve a sugar trade dispute, a Mexican source close to the negotiations said on Tuesday.

But if an agreement is not reached, Mexico will escalate the dispute to an international body such as the World Trade Organization, the source told Reuters, speaking on condition of anonymity due to the sensitivity of the negotiations.

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.