Mexican oil shake-up likely if frontrunner wins presidency, says adviser

02/22/2018 Reuters

energy - oil barrelsMexico’s presidential frontrunner is not opposed to foreign investment in the country’s oil, his top energy adviser said, but his government would make dramatic changes to energy strategy, including a new focus on refining rather than crude exports.

In perhaps the most significant change envisioned by Andres Manuel Lopez Obrador, the favorite to win the July 1 election, Mexico would seek to end decades of exporting crude in three years, a lawmaker who Lopez Obrador has tapped to be his future energy minister said in an interview.

Instead, Mexico should turn its focus to value-added fuels, processing crude domestically to produce more gasoline and diesel at refineries owned by state oil company Pemex [PEMX.UL], Rocio Nahle told Reuters late on Wednesday.

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Mexico’s Obrador Backs Private Oil Contracts, Top Adviser Says

02/20/2018 Bloomberg

Mexican politician Andres Manuel Lopez Obrador,  leader of the National Regeneration Movement (MORENA) gestures as he addresses the audience during a meeting at Plaza Zaragoza in Monterrey, Mexico
Mexican politician Andres Manuel Lopez Obrador, leader of the National Regeneration Movement (MORENA) gestures as he addresses the audience during a meeting at Plaza Zaragoza in Monterrey, Mexico February 25, 2017. REUTERS/Daniel Becerril

Two years after vowing to cancel them if elected, Mexico’s leftist presidential candidate Andres Manuel Lopez Obrador appears to be having a change of heart about the oil industry reforms of 2013 that opened the country’s energy sector to private investment.

The runner-up in both the 2006 and 2012 elections, Lopez Obrador, 64, has reviewed most of the oil tenders awarded to private drillers and found them to be beneficial for Mexico, his top business adviser, Alfonso Romo, said in an interview.
Amlo, as the current front-runner is known, found the auctions to be well-executed and transparent, Romo said at his Mexico City headquarters of Vector, the brokerage firm he owns. Romo added that not a single company would be nationalized if the candidate wins the election July 1.

The future looks bright for solar energy development in Mexico

02/19/2018 PV Magazine

Nellis_AFB_Solar_panelsMexico is set to become the largest solar PV market in Latin America, with around 2 GW of installs expected annually. Political and regulatory uncertainty do not appear to be affecting investor interest, with more opportunities than challenges present. pv magazine attended GTM Research’s Solar Summit Mexico last week to report on the latest developments in the Mexican market.

GTM Research’s Solar Summit Mexico, which took place in Mexico City on February 13 and 14, provided a comprehensive insight into the Mexican solar energy landscape.

All participants were in agreement that Mexico is on track to become one of the world’s most interesting solar markets in the coming years. Despite the challenges, which were highlighted during the conference by CEOs, analysts and government officials, the market presents an abundance of opportunities across all segments, chiefly due to its stable regulatory framework, which was created alongside the country’s energy reform three years ago.

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Mexico becomes first Latin American country to join the IEA

02/19/2018 United Press International

environment - energy - light bulb with paddy riceBy entering the “most important energy forum in the world,” Mexico is the newest, and first Latin American, country to join the IEA, its government announced.

Mexico deposited its signature on the treaty for the International Energy Agency in Belgium during the weekend, becoming the first member in Latin America.

“With this final step, Mexico enters the most important energy forum in the world,” Mexican Energy Secretary Joaquín Coldwell said in a statement. “We will take our part in setting the world’s energy policies, receive experienced advisory in best international practices, and participate in emergency response exercises.”

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Mexico: Total to open 100 gas stations in 2018

02/12/2018 Petrol Plaza

Image result for total

Together with its Mexican retailing partner, Gasored, Total expects to open 10 to 12 gas station a month in 2018, according to Alexandre Duret-Proux, General Manager of the company in Mexico.

Duret-Proux also said that Total would develop a network of 250 branded service stations over the next two years that will spread throughout Mexico, as competition from international fuel retailers increases while local operators invest heavily in modernizing sites.

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Mexico Reports Record Number of Illegal Taps Into Fuel Pipelines

02/07/2018 The New York Times

Image result for mexican oil

MEXICO CITY — Fuel thieves in Mexico drilled 10,363 illegal taps into state-owned pipelines in 2017, or an average of about 28 every day.

The government-owned oil company Pemex reported Wednesday that illegal taps rose about 50 percent last year, from 6,873 in 2016.

Those are just the taps that have been found. Many others are believed to be still working surreptitiously, drawing off gasoline or diesel that is sold illegally by vendors or even through established gas stations.

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Will Mexico’s Record-Breaking Solar Prices Pencil Out?

02/08/2018 Greentech Media

Nellis_AFB_Solar_panelsTwo years after a major energy reform effort, Mexico’s auctions are bringing in the lowest solar prices in the world. But getting those projects financed and built will still be a challenge.

Below, we answer the most pressing questions about Mexico’s solar prospects.

GTM is headed to Mexico City next week to discuss how the country can ensure sustainable and healthy solar growth. Our Solar Summit Mexico will address the status of market reform, the economics of record-low bids, financing challenges for big and small projects, currency risk, and the future policy.

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