Mexico’s energy reform was one of the most talked about issues in last month’s World Economic Forum in Davos. The Mexican delegation, made up of billionaires, top government officials and businessmen, kept the attendees’ interest high. Billionaire Ricardo Salinas Pliego, who controls the country’s No. 2 television broadcaster, TV Azteca SAB (AZTECA.MX), said he wants Petroleos Mexicanos (Pemex), the state- run oil and gas monopoly with total assets of $415.75 billion, to be privatized.
Speaking at Davos, Salinas Pliego said it was imperative for the Mexican government to open the oil company to the private sector. “I favor the opening of Pemex. I know it’s a very controversial issue because almost 30% of the federal government’s income comes from Pemex,” he said. Mexico’s second richest billionaire called for the oil monopoly to be run with a corporate approach, an independent administrative council and greater transparency, and said he was confident that the new PRI government was committed to breaking up both public and private monopolies.