Mexico president says will address theft from oil platforms

1/15/2019 – Reuters

14-01-2019-FOTO-03-CONFERENCIA-DE-PRENSA-MATUTINA-1024x697.jpgMEXICO CITY, Jan 15 (Reuters) – Mexican President Andres Manuel Lopez Obrador said on Tuesday that there had been “acts of sabotage” and theft from oil drilling platforms and that his government would address the problem as part of a crackdown on fuel theft.

“We have identified the problem and we are also going to face it,” he said at his morning press conference, without providing further details.

Read more…

Advertisements

Hundreds of Hondurans set off toward United States in new caravan

1/15/2019 – Reuters

Capture.PNGSAN PEDRO SULA, Honduras (Reuters) – Hundreds of Honduran migrants began the long trek north on Monday, part of new U.S.-bound caravan that hopes to succeed even as a previous wave of Central Americans were unable to quickly enter the United States.

Central American migrant caravans have become a flashpoint in the debate over U.S. immigration policy, as President Donald Trump has remained adamant that the migrants will be barred from crossing the border.

Television footage on Monday showed several hundred people in the violent city of San Pedro Sula huddled together and waving Honduran flags as they began a journey that will likely take weeks or even months to reach the U.S.-Mexico border.

Read more…

Pentagon Extends Troop Deployment at Mexican Border Through September

1/15/2019 – The New York Times

15xp-bordertroops1-superJumbo.jpg
(Eric Gay/Associated Press)

By Mihir Zaveri

The deployment of active-duty United States troops at the border with Mexico will most likely be extended through September, the Pentagon said Monday.

The Pentagon’s border mission had previously been scheduled to end on Dec. 15, and the Defense Department later extended the deployment into January. Then came Monday’s announcement.

In a rare use of military force first announced in October, the Trump administration sent about 5,900 active-duty troops to join up with Border Patrol agents and National Guard members, as a caravan of Central American migrants made its way toward the United States.

Read more…

Fuel thieves hit critical Mexican pipeline again

1/15/2019 – The Washington Post

BEKYQWQY2MI6TOHGKZYZBQX5BA.jpg
 (Marco Ugarte/Associated Press)

By the Associated Press

Mexico’s President Andres Manuel Lopez Obrador says fuel thieves have again damaged a critical pipeline that supplies the capital with fuel piped in from the Gulf coast.

Lopez Obrador says that the thieves’ intent was to hit back at his government’s campaign against theft of fuel.

One day earlier, Lopez Obrador announced that there had not been any new illegal taps in that pipeline since Friday. But on Tuesday he said the state petroleum company Pemex has had to repair the pipeline again.

Read more…

Headlines from Mexico

newspapers logo2-01

  1. Federal authorities started to investigate the alleged diversion of more than $17,000 million pesos from the funds Mexico City’s Airport Group (Grupo Aeroportuario de la Ciudad de México) had allocated for the construction of Mexico’s New International Airport in Texcoco, which the federal government officially canceled earlier this month.

    Read more: El Universal, Forbes, El Imparcial

  2. The federal government deployed Army and Navy forces to oil refineries in Salamanca, Guanajuato; Ciudad Madero, Tamaulipas; Salina Cruz, Oaxaca; Minatitlan, Veracruz; and Cadereyta, Nuevo León, as well as to Pemex terminals and storage facilities in the State of Mexico and Queretaro in order to battle fuel theft.

    Read more: Milenio, Excelsior, Reforma,

  3. President Andrés Manuel López Obrador noted that he would not enter into a verbal confrontation with President Trump regarding the proposed border wall and said that Trump’s insistence is motivated by internal politics and a clear desire to win reelection in the upcoming 2020 president election. This declaration came after President Donald Trump addressed the American public on Tuesday and asked Congress to approve a budget of $5.7 million dollars to construct a wall along the U.S.-Mexico border.

    Read more: El Economista, El Universal, Milenio 

  4. Consumers in the states of Hidalgo, Mexico, Jalisco, Michoacán, Guanajuato, and Querétaro experienced fuel scarcity after the federal government closed Pemex pipelines plagued with illegal fuel taps as part of its strategy against fuel theft. Fuel scarcity hit Mexico City earlier this week and panic buying of gasoline further exhausted service stations in several municipalities of Mexico’s capital.

    Read more: El Economista, Milenio, El Universal

  5. Representatives of Pemex and the Secretariat of Finance met investors, analysts, and credit rating agencies in New York City to explain and defend the federal government’s plan to tackle fuel theft and to strengthen the finances and the profitability of the state-owned oil firm.

    Read more: Milenio, El EconomistaEl Universal 

Trump: I never said Mexico would ‘write out a check’ for border wall

1/11/2019 – Politico

download.jpg
Brendan Smialowski/AFP/Getty Images

President Donald Trump said Thursday that he never promised Mexico would literally write a check to pay for a border wall — even though his 2016 presidential campaign said it had a plan to make Mexico fork over the cash.

The president has insisted Congress give him funds to build the wall as part of legislation to reopen the federal government, which is weeks into a partial shutdown. Democrats have refused to hand over the money. Trump has said even though taxpayers would fund the wall on the front end, a revamped trade deal with Mexico and Canada would indirectly pay for it later.

“When, during the campaign, I would say Mexico is going to pay for it, obviously I never said this and I never meant they are going to write out a check,” Trump told reporters Thursday.

Read more…

Mexico Confirms It Completed 2019 Oil Hedge at $55 a Barrel

1/11/2019 – Bloomberg

pictBy Dale Quinn

Mexico’s Finance Ministry confirmed that it spent about $1.23 billion to protect 2019 revenues against falling crude prices in the world’s largest annual oil deal.

The oil producer locked in hedges at $55 a barrel, equivalent to the price approved by lawmakers for the 2019 budget, according to a Finance Ministry statement. The total expense comes to about 23.5 billion pesos.

Mexico has in recent years spent around $1 billion on average buying financial put options from Wall Street banks, a closely-watched set of trades that typically covers 200 million to 300 million barrels and has the potential to roil markets. The trade, also known as the Hacienda hedge, is considered the largest oil deal on Wall Street.

Read more…