MEXICO CITY (Reuters) – Mexico’s Congress on Thursday overwhelmingly voted to open up the country’s oil and gas sector to private investment in the biggest overhaul of the industry since it was nationalized in 1938.
After a whirlwind final passage through Congress, President Enrique Pena Nieto’s bill will offer companies the chance to operate oil wells, commercialize crude and partner with state oil giant Pemex as Mexico seeks to revive flagging output.
MEXICO CITY (Reuters) – Mexico’s Congress on Thursday was poised to complete approval of the biggest overhaul of its oil industry since nationalization 75 years ago, opening the door to investment by foreign oil companies in a bid to reverse falling output.
The energy bill is a cornerstone of an ambitious reform agenda spanning telecoms to bank lending that President Enrique Pena Nieto hopes will boost growth in Latin America’s No. 2 economy, which for years has lagged regional peers.
MEXICO CITY (Reuters) – Mexican Senate committees on Monday gave general approval to a draft energy bill allowing private investment in the world’s No. 10 oil producer in what would be the biggest opening of the state-controlled sector in its 75-year history.
The bill, unveiled by senators from the ruling Institutional Revolutionary Party (PRI) and opposition conservatives on Saturday, would let private firms partner with ailing state oil firm Pemex via profit-sharing, risk-sharing and service contracts as well as licenses.
MEXICO CITY, Dec 6 (Reuters) – Mexican senators on Friday
were near agreement on offering private companies lucrative
contracts providing them a share of oil production, but
presentation of the draft constitutional reform was delayed to
allow details to be hammered out.
Officials said Senate committees could unveil the reform at
the weekend and start debating one of the cornerstones of
President Enrique Pena Nieto’s economic reform drive on Monday.
MEXICO CITY (Reuters) – Mexican lawmakers will send a landmark energy bill to Senate committees on Thursday to pave the way for debate on a cornerstone of President Enrique Pena Nieto’s economic reform drive, a top ruling party lawmaker said on Wednesday.
The bill, which would open Mexico’s state-dominated energy sector to private investment in a bid to raise flagging oil output, will need approval of the Senate and lower house of Congress.
MEXICO CITY (Reuters) – Mexican lawmakers are poised to send a landmark energy bill to Senate committees to start debate on a cornerstone of President Enrique Pena Nieto’s economic reform drive, a top ruling party lawmaker said on Wednesday.
The bill, which would open Mexico’s state-dominated energy sector to private investment in a bid to raise flagging oil output, will still need approval of the Senate and lower house of Congress.
MEXICO CITY (Reuters) – Mexican congressional committees on Monday gave the green light to an electoral reform demanded by the opposition, paving the way for lawmakers to push ahead with the energy sector overhaul at the center of President Enrique Pena Nieto’s reform agenda.
The reform will allow federal lawmakers to serve consecutive terms, sets out rules for coalition governments and should strengthen Congress at the expense of the president. It is the last major hurdle to approval of the energy reform.
MEXICO CITY, Oct 7 (Reuters) – Mexico’s plan to become the
first major oil-producing emerging economy to introduce a carbon
tax has a problem: It clashes head-on with the government’s
ambitions to lower the cost of electricity and boost energy
Aiming to raise up to $2 billion, the carbon tax is part of
a fiscal reform floated by President Enrique Pena Nieto just as
he pushes an energy plan to encourage billions of dollars of
investment in Mexico’s flagging oil and gas industry.
MEXICO CITY, Sept 15 (Reuters) – Hurricane Ingrid and
tropical depression Manuel brought heavy rains to Mexico’s Gulf
and Pacific coasts on Sunday, causing flooding and landslides,
killing 21 people and forcing some towns to cancel national
Independence Day celebrations.
Thousands of people sought emergency shelter as Manuel made
landfall and bands of rain from Ingrid – churning about 110
miles (175 km) from the Gulf coast – reached land, causing
rivers and streams to burst their banks.
MEXICO CITY, Sept 6 (Reuters) – Mexico’s agriculture
ministry will spend up to 90 million pesos($6.80 million) on a
coffee hedging program next season aimed at shielding farmers
against a further drop in market prices, a senior official said
The price of the most-traded arabica futures contract
has fallen more than 60 percent since peaking above $3 per pound
in 2011, just as production costs are shooting up in Mexico and
across Central America due to the spread of a tree-killing
fungus known as coffee leaf rust.