Correspondent, Mexico
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Jun 12, 2012

Analysis: Mexico election favorite faces stiff test on oil reform

MEXICO CITY (Reuters) – Mexico’s state oil giant Pemex, the country’s most celebrated symbol of self-sufficiency, risks becoming a net importer of crude within a decade unless it can find more oil.

To rescue it, presidential front-runner Enrique Pena Nieto has pledged to open up the firm to more private investment, breaking with the traditions of his Institutional Revolutionary Party (PRI), which nationalized Mexico’s oil industry in 1938.

Jun 10, 2012

Final Mexican debate to test Pena Nieto’s mettle

MEXICO CITY, June 10 (Reuters) – Mexico’s presidential
contenders lock horns for a final televised debate on Sunday
night with front-runner Enrique Pena Nieto under rising pressure
from student-led opposition.

Pena Nieto, candidate of the opposition Institutional
Revolutionary Party (PRI), has led polls for the July 1 election
for over two years, but in the past month the race has tightened
due to growing misgivings about the possible return of the PRI.

Jun 6, 2012

Chevron, Repsol among bids for Mexico oil contracts

MEXICO CITY, June 6 (Reuters) – Mexico’s state oil monopoly
Pemex on Wednesday released a list of 16 private consortiums
bidding for a second round of oilfield operating contracts to
boost foreign investment in the country’s lagging energy sector.

Oil major Chevron and Spanish energy firm Repsol
are among the bidders, interested in 22 mature fields
in six areas in the states of Tamaulipas and Veracruz.

May 31, 2012

Grupo Mexico to spend $7 billion on mines in the next five years

MEXICO CITY (Reuters) – Copper miner Grupo Mexico will spend $7 billion through 2016 to aggressively expand its mines in Mexico, Peru and the United States to meet a goal of doubling current production, the company’s chief financial officer said on Thursday.

Boasting the world’s largest copper reserves, Grupo Mexico’s plan is to raise output to 1.4 million tonnes per year by 2016. The group now churns out 840,000 tonnes of copper annually.

May 31, 2012

Mexican leftist closes in on presidential front-runner

MEXICO CITY (Reuters) – Mexico’s leftist presidential candidate Andres Manuel Lopez Obrador has cut the gap on front-runner Enrique Pena Nieto to just four percentage points according to a new poll, raising doubts about the outcome of the July 1 election.

The latest voter survey by newspaper Reforma published on Thursday showed support for 2006 runner-up Lopez Obrador at 34 percent, up seven points from a previous poll last month.

May 23, 2012

Mexico opposition party chides ex-governor in drug probe

MEXICO CITY (Reuters) – Mexico’s opposition party, leading by double digits in presidential polls, on Wednesday said a former governor must face up to charges in the United States of accepting millions of dollars from drug cartels.

In an effort to contain what is likely to become a hot campaign issue, the Institutional Revolutionary Party (PRI) said they are deciding if Tomas Yarrington, former governor of the state of Tamaulipas, should be thrown out of the party.

May 19, 2012

Youth protest former Mexican ruling party’s rise

MEXICO CITY (Reuters) – Thousands of demonstrators protested in Mexico City on Saturday against opposition presidential candidate Enrique Pena Nieto, who is far ahead in polls and poised to lead the party that ruled Mexico for much of the 20th century back to power.

A contingent of mainly students, accompanied by groups of unionized workers and peasant farmers, held banners lambasting the Institutional Revolutionary Party, or PRI, and its candidate, Pena Nieto.

May 14, 2012

Mexico candidate blames opposition as bodies pile up

VERACRUZ, Mexico (Reuters) – The main opposition political party is at the root of the violence engulfing Mexico, ruling party presidential candidate Josefina Vazquez Mota said after one of the worst atrocities in the country’s drug war.

Fighting to close a big gap with Enrique Pena Nieto, the front-runner for the July 1 election, Vazquez Mota sharpened her attacks on his Institutional Revolutionary Party, or PRI, saying it had made life easy for brutal drug traffickers in Mexico.

May 8, 2012

Mexico lawmakers flag $30 bln Pemex loss in audit

MEXICO CITY, May 8 (Reuters) – Mexican lawmakers are calling
for an official probe into how state oil monopoly Pemex
accounted for a suspected $30 billion loss in 2009 which an
audit showed the company later booked as assets.

Esthela Damian, an opposition congresswoman who heads the
accounting oversight committee, said she is asking federal
authorities to investigate irregularities in Pemex’s accounts.

May 7, 2012

Mexico’s Pena Nieto draws fire but survives debate

MEXICO CITY, May 6 (Reuters) – Mexico’s presidential
front-runner Enrique Pena Nieto was forced onto the defensive on
Sunday by his rivals who accused him of corruption, lies and
being a pawn of the media during televised election debate.

Pena Nieto, of the opposition Institutional Revolutionary
Party (PRI), has led opinion polls for months and his two main
opponents repeatedly turned on the 45-year-old, albeit without
airing any new accusations against him or his party.

    • About Mica

      "I cover commodities and general news in Mexico and Central America and as part of the team in Latin America reported on the outbreak of swine flu, a coup in Honduras and the earthquakes in Haiti and Chile. Before Mexico, I was based in Guatemala for two years."
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