Adriana's Feed
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.

Dec 12, 2013

Mexican Congress passes radical shake-up of oil industry

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.

Dec 12, 2013

Mexico’s landmark energy bill nears final approval

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.

Dec 10, 2013

Mexico Senate panels OK energy reform; leftists oppose

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.

Dec 6, 2013

Mexico near energy reform deal but presentation delayed

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.

Dec 5, 2013

Mexico lawmakers preparing to debate energy reform: top senator

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.

Dec 4, 2013

Mexico lawmakers poised to debate energy reform-top senator

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.

Dec 3, 2013

Mexican Congress committees give green light to electoral reform

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.

Oct 7, 2013

Mexico’s carbon tax faces headwinds from energy revamp

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
output.

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.

Sep 16, 2013

Hurricane Ingrid, tropical depression drench Mexico, kill 21

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.