Dave's Feed
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.

Nov 29, 2013

Mexico leftists exit pact, raising hope for deeper energy reform

MEXICO CITY, Nov 28 (Reuters) – Mexico’s main leftist party
said on Thursday it had pulled out of a cross-party pact on
economic reform, raising hopes that the government will agree to
a more far-reaching plan to attract private investment for the
oil industry.

The ruling Institutional Revolutionary Party, or PRI, is
hoping its energy reform will spur faster economic growth, and
the departure of the Party of the Democratic Revolution (PRD)
from the accord is likely to push the debate closer to a more
business-friendly proposal backed by the center-right.

Nov 24, 2013

Secondary laws for Mexico telecoms overhaul to be delayed -lawmakers

MEXICO CITY, Nov 23 (Reuters) – Legislation to implement a
major overhaul of Mexico’s telecommunications industry will not
be approved until early next year, pushing back a deadline set
for December, two senior lawmakers said on Saturday.

The secondary laws set out the fine print for a telecoms
reform promulgated in June by President Enrique Pena Nieto which
gives regulators sweeping powers to rein in billionaire Carlos
Slim’s telecoms giant America Movil and dominant
broadcaster Televisa.

Nov 13, 2013

Mexico nears electoral reform, opening door to energy bill

MEXICO CITY, Nov 12 (Reuters) – Accused a generation ago of
engineering the “perfect dictatorship,” Mexico’s ruling party is
now close to agreeing on a plan that could weaken the presidency
and strengthen Congress in order to win votes for a major energy

The Institutional Revolutionary Party (PRI) and its
opposition rivals are shortly expected to unveil the blueprint
for a reform aimed at giving Congress greater oversight of
government and allowing lawmakers to serve consecutive terms.

Nov 6, 2013

Mexico oil reform could go beyond profit-sharing contracts -lawmakers

MEXICO CITY, Nov 5 (Reuters) – Mexico could offer oil
companies incentives that go beyond planned profit-sharing
contracts when Congress passes the government’s energy reform,
two senior officials from the ruling Institutional Revolutionary
Party (PRI) said on Tuesday.

President Enrique Pena Nieto put forward an energy reform in
August that envisages creating profit-sharing schemes for
private investors in Mexico’s oil industry, which has been
dominated by state oil monopoly Pemex for 75 years.

Oct 31, 2013

Mexico plan to beef up tax revenues nears final Senate approval

MEXICO CITY, Oct 30 (Reuters) – Mexico’s Senate on Wednesday
was close to passing a package of measures to bolster the
country’s weak tax revenues, including higher taxes for the
rich, levies on sugary drinks and junk food, as well as a charge
on stock market gains.

After giving general approval to the fiscal bill late on
Tuesday, the Senate must still vote on divisive sections
lawmakers want to repeal or amend, a process which has been held
up by sparring by the biggest opposition party.

Oct 30, 2013

Mexican tax reform nears final Senate approval after spat

MEXICO CITY (Reuters) – The Mexican government’s tax reform looked likely to pass the Senate without major changes after the main opposition party refused to continue debating the bill on Wednesday, arguing its concerns were being ignored.

The conservative National Action Party’s (PAN) decision to abandon the debate should pave the way for many proposed amendments to the bill to be voted down, but also risks creating trouble for the government over energy reform.

Oct 30, 2013

Mexico Senate broadly approves tax plan, hits snag on details

MEXICO CITY (Reuters) – Mexico’s Senate gave general approval to the government’s plan to boost tax revenues before the main opposition party walked out early on Wednesday, halting voting on divisive details of the reform.

The tax bill is a cornerstone of President Enrique Pena Nieto’s reform agenda, and early voting on Wednesday suggested his Institutional Revolutionary Party (PRI) would succeed in thwarting any major changes to the legislation.