Mexico liberalizes electricity generation

July 21, 2014

07/21/14 Deutsche Welle

Energy -electricity_transmission_linesMexico’s Senate has passed a law that will allow private power generators to sell electricity directly to users. It’s another step in a major reform and privatization of the country’s energy sectors.

Mexico’s Senate voted 88 to 26 on Sunday (20.7.2014) in favor of a new Electricity Industry Act, which will now move to the Chamber of Deputies, the lower house in Mexico’s parliament, for further legislative processing.

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Mexico’s Senate OKs fresh changes to Pemex, electrical utility

July 21, 2014

07/21/14 Reuters

energy - oil_rigMexico’s Senate passed two bills late on Sunday that set out modified structures for the country’s two state-owned energy companies, part of a sweeping reform that overhauls the oil, gas and electricity sectors.

The new laws that define the administration and new transparency measures for state-run oil company Pemex and national electricity utility CFE passed on a vote of 89 to 27.

 

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Mexico Senate Approves Energy Bill Opponents Denounce as Treason

July 18, 2014

07/18/14 Bloomberg

energy- oil pumps 2Mexico’s Senate approved additional legislation to help open the country’s energy sector to private companies for the first time in more than seven decades, a move decried as treasonous by opponents.

The Senate voted 90 to 28 today to approve a bill that sets a framework for oil and gas contracts for companies entering the country such as Chevron Corp. (CVX) and Exxon Mobil Corp. (XOM)The landmark legislation opens the state-run crude monopoly held by Petroleos Mexicanos since 1938. Three other proposals that will open the electricity sector and set guidelines for state-owned companies and their employees will be debated today and over the weekend.

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Mexico to open oil and gas to private sector

July 18, 2014

07/18/14 Deutsche Welle

energy - oil pumpsMexico’s Senate voted 90-28 on Wednesday (17.7.2014) to approve the core elements of a bill setting out the regulatory framework for opening the country’s oil and gas sector to private investment, according to reports by Reuters and the leading Mexican daily El Universal.

Under the new Hydrocarbons Law, a centerpiece of President Enrique Pena Nieto’s economic reform agenda, production and exploration for oil and gas by private companies will once again be permitted, after a 75-year hiatus. The government hopes that opening the hydrocarbons sector to private investment will reverse the past decade’s pattern of falling oil and gas output.

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Mexico’s Proposed Energy Laws Market Positive, Analysts Say

July 17, 2014

07/17/14 Bloomberg

energy -wind_energyThe energy legislation draft approved by Mexican senate committees yesterday is favorable given low national content requirements and short-term economic growth prospects, according to analysts.

The proposed secondary energy laws call for a 25 percent national content minimum for incoming companies by 2015 that will increase to 35 percent by 2025. The minimum requirements for national content, which is the amount of obligatory Mexican supplies in each new energy project, “won’t bother anybody” and are reasonable compared to other countries, according to Steve Otillar, partner at Akin Gump Strauss Hauer & Feld LLP.

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Mexico Senate Committees Send Energy Legislation to Full Chamber

July 16, 2014

07/15/14 Bloomberg

Mexican_SenateMexican Senate committees today advanced four bills implementing last year’s energy opening to the full chamber, with a vote possible as soon as July 17.

The energy and primary legislative studies committees voted to advance the laws with backing from the ruling Institutional Revolutionary Party, or PRI, and the opposition National Action Party, or PAN. PAN changes incorporated in the bills include strengthening the rights of landowners against expropriation by the government and Senate ratification of board members for state-owned oil producer Petroleos Mexicanos, or Pemex, PAN Senator Jorge Luis Lavalle said in a phone interview.

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Mexico’s Pemex awards gas pipeline contract to OAT consortium

July 10, 2014

07/10/14 Fox News Latino

gas pipeline in green fieldMexican state-owned energy giant Petroleos Mexicanos has awarded a contract to build a section of the Los Ramones natural gas pipeline to a consortium made up of Brazilian engineering group Odebrecht, Mexican construction company Arendal and Italian-Argentine group Techint.

The contract was awarded after a “painstaking analysis” to ensure the necessary “technical experience and capacity” to develop the Los Ramones Phase II North project in a timely and appropriate manner, Pemex said in a statement.

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Mexico Looking to Cap Fuel Prices as Competition Looms

July 10, 2014

07/09/14 Bloomberg

energy - gas pumpMexico is proposing to introduce fuel price caps to replace government-set pump prices in an interim measure as the nation prepares to open up its energy industry to competition for the first time in 76 years.

Under the proposal, price gains from January will be tied to inflation and private gas stations will be able to adjust prices freely under the capped level, Deputy Energy Minister Lourdes Melgar said yesterday in an interview. At present, pump prices rise at a fixed monthly rate set by the government.

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Mexico’s Pemex to spend $6 bln to maintain output at Cantarell

July 2, 2014

7/1/14 Reuters

energy- oil pumps 2Mexico’s state-run oil company Pemex will launch a $6 billion investment in 2017 aimed at maintaining current levels of production at its once-supergiant Cantarell field over the next decade, a Pemex official said on Tuesday.

Discovered in 1976, output from the offshore Cantarell field once supplied over 2 million barrels per day (bpd), or more than half of Mexico’s total crude production.

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Mexico oil contracts set to be delayed: official

July 2, 2014

7/1/14 Reuters

energy - oil pumpsThe first big set of contracts for oil and gas development in Mexico are likely to be delayed a few months, an energy ministry official said on Tuesday, after disagreements in Congress over detailed legislation to underpin them.

Congress is currently discussing so-called secondary laws, including some new rules and amendments to existing ones, needed to set in motion a landmark energy reform passed in December to open up the oil and gas industry to private capital.

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