Dave's Feed
Dec 17, 2013

Analysis: Mexican president races through reforms but risks loom

MEXICO CITY (Reuters) – A year ago, President Enrique Pena Nieto took office vowing a root-and-branch reform of Mexico’s economy even though he had no majority in Congress and faced accusations from the main opposition parties that he stole the election.

He has since passed a major education overhaul, shaken up oversight of the telecommunications market, pushed through reforms of the tax system and banking rules and put an end to Mexico’s 75-year-old oil and gas monopoly.

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 12, 2013

Mexico energy bill near approval as lower house fast-tracks debate

MEXICO CITY (Reuters) – Mexico’s lower house of Congress on Wednesday fast-tracked debate of an energy reform that would permit the biggest oil industry opening in 75 years, putting the bill closer to final approval after the Senate signed off on it earlier in the day.

Lawmakers in the lower house voted to bypass committees for energy and constitutional matters after leftists, who are railing against the bill in the world’s No. 10 oil producer, padlocked doors to the chamber to prevent a debate.

Dec 12, 2013

Mexico Senate passes energy bill; leftists seek to derail

MEXICO CITY (Reuters) – Mexico’s Senate on Wednesday approved an energy reform to permit the biggest oil industry opening in 75 years, sending it to the lower house where leftists padlocked doors to the chamber to stop lawmakers from debating the bill.

The reform in the world’s No. 10 oil producer, backed by the ruling Institutional Revolutionary Party, or PRI, and the opposition conservative National Action Party (PAN), was sent to the lower house for debate and final approval.

Dec 11, 2013

Mexico Senate passes energy bill; goes to lower house

MEXICO CITY (Reuters) – Mexico’s Senate on Wednesday passed an energy bill that aims to lure private capital into the state-run oil and gas industry, in the biggest strategic shift since the world’s No. 10 oil producer nationalized the sector in 1938.

The reform, backed by the ruling Institutional Revolutionary Party, or PRI, and the opposition conservative National Action Party (PAN), was sent to the lower house for debate and final approval.

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.