‘We made it’: Haitians learn from experience to reach Mexico’s Tijuana

Source: Reuters

While thousands of Haitians were detained, deported or expelled from a camp on Mexico’s frontier with Texas last week, many others traveled west to the border city of Tijuana, hoping to avoid a crackdown aimed at stemming the rising tide of migrants.

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Mexico Hands Control of Large Oilfield to Pemex in Dispute With U.S.’s Talos

07/06/2021

Source: The Wall Street Journal

Mexico’s government designated state oil company Petróleos Mexicanos as the operator of a large offshore oil reservoir it shares with a consortium led by Houston-based Talos Energy Inc., which has already invested heavily in the reservoir.

The designation gives Pemex management control of the joint development and comes as nationalist President Andrés Manuel López Obrador steps up efforts to revert key parts of an overhaul in 2014 that opened oil exploration and production to foreign investment.

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

05/26/2021

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.

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

05/25/2021

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.

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Goldman Traders Caught in Mexico Stalemate Chasing $400 Million From Texas Freeze

05/17/2021

Source: Bloomberg

(Bloomberg) — It’s a Wall Street nightmare. You score hundreds of millions of dollars on a trade and you just can’t get paid.

That’s what Goldman Sachs Group Inc. faces in a transaction pitting its traders against Mexico’s dominant power company, championed by none other than President Andres Manuel Lopez Obrador, according to people with knowledge of the matter. At issue: roughly $400 million the Wall Street bank believes it’s owed from a natural-gas trade that went wild when a deep freeze hit Texas in February.

In private discussions with Goldman Sachs, state-owned utility Comision Federal de Electricidad has blamed rogue traders, ejected staff and even hinted that the side lacking financial sophistication in the trade was, perhaps, the Wall Street bank, the people said.

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Mexico’s president criticizes Shell-Pemex joint venture in Texas refinery

05/06/2021

Source: Yahoo! News

MEXICO CITY, May 6 (Reuters) – Mexico’s president on Thursday criticized the partnership between state oil company Pemex and Royal Dutch Shell in a Texas refinery, saying it has not yielded any benefits for Mexico.

President Andres Manuel Lopez Obrador, an energy nationalist who has sought to revive the fortunes of the deeply-indebted Pemex, said that no profits have been repatriated to Pemex since the partnership with Shell was established in 1993 as they have all been re-invested.

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Opinion: AMLO’s Plan to Drop Texas Gas

02/21/2021

Source: The Wall Street Journal

Texas Gov. Greg Abbott’s decision last week to ban natural-gas exports to Mexico temporarily was shortsighted and counterproductive for his state.

This isn’t to dismiss the suffering in Texas. But Northern Mexico, which was also in the deep freeze, is the Lone Star State’s largest trading partner and its biggest market for natural-gas exports. Trying to use a state edict to cut off Mexican power generators in a crisis was a public admission that in Texas’s eyes, customers south of the border don’t rate.

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Mexico Cries Foul at Natural Gas Cutoff Ordered by Texas Governor

02/18/2021

Source: The New York Times

MEXICO CITY — The Mexican government said on Thursday that it was working to reverse an order from Gov. Greg Abbott of Texas to restrict natural gas exports, part of that state’s effort to resolve widespread power outages that have left millions of Texans without electricity in the middle of a deadly winter storm.

Mr. Abbott’s order has heightened tensions between the two countries, with top Mexican officials protesting the governor’s decision to cut off gas supplies just as Mexico works to resolve its own mass power outages as a result of the frigid weather.

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Blackout Politics: AMLO’s Energy Plan Will Backfire

02/17/2021

Source: Americas Quarterly

On Feb. 16, a day after a winter storm-related energy crisis left more than 4 million Mexicans without electricity, President Andrés Manuel López Obrador tried to seize the moment. “What is the lesson in all of this? We must produce,” the president said in one of his daily press briefings.

The president, popularly known as AMLO, went on to blame the country’s dependence on natural gas imports from the U.S. The blackout, he said, was further proof of a need for Mexican energy self-sufficiency.

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Texas freeze leaves millions in northern Mexico without power

02/16/2021

Source: Aljazeera

Freezing weather in the US state of Texas left almost five million people in northern Mexico without power early on Monday, as a shortage of natural gas disrupted electricity production.

Mexico’s government-owned utility, the Federal Electricity Commission (CFE), said on Monday its operations were interrupted as the winter storm in Texas froze natural gas pipelines.

Mexico uses gas to generate about 60 percent of its power, compared with about 40 percent in the United States, and the country built pipelines to take advantage of cheap natural gas from its northern neighbour.

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