Mexico’s Pemex to Buy U.S. Natural Gas Through Mercuria

July 30, 2014

07/30/14 Bloomberg

gas pipeline in green fieldMexico’s state oil company struck a deal to import U.S. natural gas from a Swiss trading house, a step that would help the nation secure a cheaper long-term alternative to fuel oil for its power plants.

A subsidiary of Petroleos Mexicanos will form a joint venture with Geneva-based Mercuria Energy Group Ltd. to handle the gas and will aim to be one of the five largest participants in the North American natural gas market, the company said today in an e-mailed statement.

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Mexico weighs taking on Pemex pension liabilities

July 30, 2014
07/30/14 Financial Times
piggy bank with coinsMexico is poised to increase its public debt at a time of sluggish economic growth, as the government considers taking some of Pemex’s giant pensions liabilities on to its own balance sheet.

The move comes amid a sweeping reform of the energy and power sectors that will see the state oil company as well as utility CFE transform into “state productive enterprises” by the end of next year, competing with private investment.

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U.S. lawmakers warn against Mexico sugar import restrictions

July 30, 2014

07/29/14 Reuters

sugarA bipartisan group of U.S. lawmakers warned on Tuesday that restricting Mexican sugar imports would inflate food prices and threaten U.S. food manufacturers, the latest sign that pressure is growing on Washington to avoid trade barriers.

 

In a letter seen by Reuters, 17 U.S. senators on Tuesday urged the Commerce Department against striking a deal, known as a suspension agreement, that would impose quotas on Mexican sugar imports.

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Governor Brown Signs Agreement to Foster Cooperation Between Mexican and American Colleges and Universities

July 30, 2014

07/29/14 Office of the Governor of California

hand shakeGov. Jerry Brown, on the third day of his trade mission here, signed two more agreements with Mexican officials on Tuesday.

The first, which was inked at the University of California’s headquarters in Mexico City, is aimed at increasing collaboration in higher education.

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California and Mexico sign pact to fight climate change

July 29, 2014

07/28/14 Reuters

Environment -Climate change and apaptation -- dry groundCalifornia Governor Jerry Brown and Mexican environmental officials signed a pact on Monday aimed at reducing greenhouse gas emissions, an agreement that could eventually expand the market for carbon credits.

The six-page memorandum of understanding calls for cooperation in developing carbon pricing systems and calls on the partners to explore ways to align those systems in the future.

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Pemex Fire at Ciudad Madero Refinery Tank Causes Minor Injuries

July 24, 2014

07/23/14 Bloomberg 

Oil barrelsNine Petroleos Mexicanos employees reported minor injuries after a storage tank at a refinery in Ciudad Madero caught fire late last night.

Seven workers have been treated for dehydration and two for minor burns, according to a Pemex press official who declined to be named because of company policy. Emergency services crews continue to work to extinguish the fire at the state-owned oil producer’s refinery 500 kilometers (311 miles) north of Mexico City in the Tamaulipas state. No serious injuries have been reported.

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Mexico’s Energy and Telecom Reforms Come Into Focus

July 24, 2014

07/24/14 By Dwight Dyer. Forbes

3601496501_9bc4193670The passage of President Enrique Peña Nieto’s reform agenda last year was a watershed moment for Mexico’s government, representing the most significant change to the country’s governance since the election of Vicente Fox in 2000 ended decades of single-party rule. Yet the true extent of the reforms remains very much unknown. Although the constitutional amendments passed last year represented agreements to reforms in principle, the nuts and bolts of the actual reform must still be hashed out in a wave of secondary legislation. As I’ve written here before, the devil is in the details.

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Mexico’s Oil And Gas Industry Is Open To Foreign Investment For The First Time In Over 75 Years

July 23, 2014

07/23/14 Business Insider

gas pipeline and gaugeMexico’s Senate has approved legislation to implement historic constitutional reform that would open the country’s oil and gas industry to foreign investment for the first time since 1938.

In an 85-26 vote, lawmakers passed the last of four packages of laws Monday to end the monopoly held by state oil company Pemex for 75 years in the exploration and exploitation of energy resources.

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America Movil Profit Rises as Units Abroad Outshine Mexico

July 22, 2014

07/22/14 Bloomberg

america movilAmerica Movil SAB (AMXL) beat second-quarter estimates for adjusted earnings and sales as growth outside of Mexico shone through the gloom of tougher regulations in its home market, where it lost 2 million subscribers.

Billionaire Carlos Slim’s mobile-phone carrier said profit rose 2.4 percent from a year earlier to 66.6 billion pesos ($5.1 billion), leaving out interest, taxes, depreciation and amortization. That compared with the average estimate of 65.8 billion pesos of nine analysts compiled by Bloomberg.

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Mexico’s CFE to tender $2.8 bln in power plant, pipeline projects

July 22, 2014

07/21/14 Reuters

gas pipeline and gaugeMexico’s national power company CFE said on Monday it will offer $2.8 billion in natural gas and electricity infrastructure project contracts by the end of this year aimed at boosting economic growth.

The projects include two combined-cycle power plants, two natural gas pipelines as well as an electricity transmission project, all located near Mexico’s northern border with the United States.

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