End of preview - This article contains approximately 200 words.
Subscribers: Log in now to read the full article
Not a Subscriber?
Choose from one of the following options
Back
LatinNews Regional Monitor: Mexico - 11 April 2018
In brief: Mexico
* Mexico’s energy minister, Pedro Joaquín Coldwell, called for discipline and continuity in the negotiation of oil concession contracts during the opening of the third national petroleum convention on 10 April. According to the local press, Coldwell stated that the cancelling or revision of the oil concession contracts that have been signed under the 2013-2014 energy sector reform, which opened up Mexico’s oil sector to increased private sector participation, would be against the best interests of the country. Coldwell’s remarks follow those by Andrés Manuel López Obrador, the presidential candidate of the left-wing Movimiento Regeneración Nacional (Morena) party, who is currently leading all voting intention polls ahead of the 1 July general election. López Obrador has said that, if elected, his government would revise all new oil concession contracts to ensure that they are in Mexico’s best interest. The president of the Mexican association of hydrocarbon producing firms (Amexhi), Alberto de la Fuente, who also attended the event, agreed with Coldwell and said that the new contracts were needed to reverse the fall in production in Mexico’s oil sector. Mexico has so far negotiated 107 new contracts with private oil companies, with an estimated total pledged investment of US$161bn.
