Mexico to recover investment in Texas refinery in 2-3 years, president says


Source: Reuters

Mexico should recover its investment to buy the controlling stake of the Deer Park refinery in Texas during the next two to three years, President Andres Manuel Lopez Obrador said on Wednesday.

Mexican state oil company Petroleos Mexicanos (PEMX.UL) this week announced the purchase of a 50.1%-stake in the 340,000-barrel-per-day refinery from its partner Royal Dutch Shell (RDSa.L) for some $596 million.


Mexico to buy Shell share of Texas refinery for $600 million


Source: AP

MEXICO CITY (AP) — Mexico said Monday it will buy Shell’s 50% share in the jointly owned Deer Park refinery near Houston for about $600 million.

The move comes as part of President Andrés Manuel López Obrador’s central policy to build, acquire or renovate oil refineries, in an era when most countries are trying to reduce their reliance on fossil fuels.

“We are going to stop buying fuel abroad … we will become self sufficient by 2023,” said López Obrador, who is spending about $9 billion to build a similar-size new refinery in his home state of Tabasco.


Mexican President Uses Energy Nationalism Card Ahead of Key Vote


Source: Bloomberg

Andres Manuel Lopez Obrador is doubling down on a promise that helped launch him to Mexico’s highest office in a landslide victory.

The Mexican president is trying to scrap a policy that opened the nation’s energy sector, and he’s made it the center of his strategy to keep control of congress in midterm elections just two months away.


Global Insider: North American Trilateral Summit Sets Stage for Deeper Energy Cooperation

Energy -electricity_transmission_linesWorld Politics Review, 2/26/14

Last week’s U.S.-Mexico-Canada trilateral summit resulted in a communique that among other things called for increased energy cooperation on the continent. In an email interview, Jed Bailey, managing partner of Energy Narrative, a research and consulting group focusing on Latin America’s energy sector, explained the recent history of and next steps for North American energy integration.

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Mexico energy reform targets end of electricity generation monopoly

Energy -electricity_transmission_linesReuters, 8/6/2013

Oil politics will dominate Mexico’s energy reform debate, set to kick off in earnest this week, but the government is also poised to propose an electricity overhaul that could dramatically reduce costs for businesses.

If Mexico’s existing state-run electricity monopoly is dismantled and market forces spark more competition and private power generation, experts say electricity rates could drop by as much as half. A senior lawmaker close to the reform negotiations from the ruling Institutional Revolutionary Party, or PRI, says the government’s proposal will overhaul the electricity sector. It will likely include constitutional changes to allow an expansion of private sector investment in generation.

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Mexico’s major political forces agree to Legislative Agenda

El Universal,  1/8/2013

Mexico cityThis article is in Spanish

Mexico’s major political forces agree to the legislative agenda for the next two sessions.

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Parties, candidates hint at energy policy in a new administration

Mex Biz News, 7/27/11

In less than 12 months, Mexico will elect a new president. Surely, the security concerns gripping the country will dominate the campaigns. But, given energy’s role for the country’s economic well being, what candidates say on that topic will be important.

Across the parties and presumed candidates, there have indeed been hints and signals as to their thoughts on energy that are worth further assessment.

Beginning with the incumbent party, President Felipe Calderon’s National Action Party (PAN), there is much to dissect.

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