Dave's Feed
Dec 11, 2013

Mexico Senate passes energy bill, lower house OK pending

MEXICO CITY (Reuters) – Mexico’s Senate on Wednesday signed off on an energy bill that aims to lure private capital into the state-run oil and gas industry in the biggest shake-up since a 1938 nationalization, sending it to the lower house for debate and final approval.

The reform, backed by the ruling Institutional Revolutionary Party, or PRI, and the opposition conservative National Action Party (PAN), will mark the biggest strategic shift since the world’s No. 10 oil producer nationalized the sector in 1938.

Dec 11, 2013

Mexican Senate prepares to vote on historic energy bill

MEXICO CITY (Reuters) – Mexico’s Senate on Tuesday debated a landmark energy overhaul bill at the center of President Enrique Pena Nieto’s economic reform drive, after the country’s two biggest political parties hammered out a draft presented over the weekend.

The reform, backed by the ruling Institutional Revolutionary Party (PRI) and the opposition conservative National Action Party (PAN), would mark the biggest strategic shift since the world’s No. 10 oil producer nationalized the sector in 1938.

Dec 8, 2013

Mexico energy reform eyes big opening for private capital

MEXICO CITY (Reuters) – Mexican lawmakers unveiled a draft energy bill on Saturday that includes contracts ranging from profit or production-sharing to licenses to lure private investment, in what would be the biggest opening in the world’s No. 10 oil producer in decades.

Approval of the bill presented in the Senate would mark the end of the decades-long oil and gas monopoly held by state-run giant Pemex PEMX.UL, which is struggling to reverse a sharp slide in oil output due to years of chronic under-investment.

Dec 8, 2013

Exclusive: Mexico’s draft energy reform spans profit-sharing to licenses

MEXICO CITY (Reuters) – Mexican lawmakers unveiled a draft energy bill on Saturday that includes contracts ranging from profit-sharing and risk-sharing to licenses to lure private investment, in what would be the biggest opening in the world’s No. 10 producer in decades.

Approval of the bill would mark the end of the decades-long oil and gas monopoly held by state-run Pemex, which is struggling to reverse a sharp slide in oil output due to years of chronic under-investment.

Dec 8, 2013

Mexico’s draft energy reform spans profit-sharing to licenses

MEXICO CITY (Reuters) – Mexican lawmakers unveiled a draft energy bill on Saturday that includes contracts ranging from profit-sharing and risk-sharing to licenses to lure private investment, in what would be the biggest opening in the world’s No. 10 producer in decades.

Approval of the bill would mark the end of the decades-long oil and gas monopoly held by state-run Pemex PEMX.UL, which is struggling to reverse a sharp slide in oil output due to years of chronic under-investment.

Dec 7, 2013

Exclusive: Mexico energy reform draft spans profit-sharing to licenses

MEXICO CITY (Reuters) – Lawmakers from Mexico’s ruling centrist party and opposition conservatives have reached agreement in principle on a draft energy bill that includes contracts ranging from profit-sharing and risk-sharing to licenses, a top lawmaker told Reuters on Saturday.

The bill, which would allow private investors to drill for the country’s oil, keeps ownership of crude in state hands, lawmakers told Reuters, and stops short of full-blown concessions that oil majors had been hoping for.

Dec 7, 2013

Mexico energy reform draft spans profit-sharing to licenses

MEXICO CITY, Dec 7 (Reuters) – Lawmakers from Mexico’s
ruling centrist party and opposition conservatives have reached
agreement in principle on a draft energy bill that includes
contracts ranging from profit-sharing and risk-sharing to
licenses, a top lawmaker told Reuters on Saturday.

The bill, which would keep ownership of crude in state
hands, is at the center of an economic reform drive that
President Enrique Pena Nieto hopes will boost long-lagging
growth in Latin America’s No.2 economy.

Dec 7, 2013

Mexico nears energy bill, oil to remain in state hands

MEXICO CITY, Dec 6 (Reuters) – Mexican senators on Friday
neared agreement on a bill that would allow private investors to
drill for oil and market the country’s black gold, but keep
ownership of the crude in state hands.

The draft bill breaks with 75 years of tradition in Mexico,
where the 1938 expropriation of foreign oil companies helped to
forge its modern self-image, and President Enrique Pena Nieto
aims to pass his most ambitious reform before Christmas.

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 6, 2013

Mexico poised to unveil energy bill; right eyes compromise

MEXICO CITY, Dec 5 (Reuters) – Mexican senators will present
a bill to open up Mexico’s energy sector on Friday, and
opposition conservatives are weighing a compromise on demands
for lucrative concessions to clinch a deal with the ruling
party, a top lawmaker said on Thursday.

Opening up the state-run energy sector is a cornerstone of
President Enrique Pena Nieto’s economic reform drive and he
argues that more private investment is needed to lift flagging
oil output in Latin America’s No. 2 economy.