Reuters - Mexico's plan to become the first major oil-producing emerging economy to introduce a carbon tax has a problem: It clashes head-on with the government's ambitions to lower the cost of electricity and boost energy output.
Forbes - Mexico’s oil sector is set to begin a radical transformation. How big could these oil reforms be for Mexico’s economy? “This will be the most significant change in Mexico’s economic policy in 100 years,” says Duncan Wood of the Woodrow Wilson Center.
Dow Jones - U.S. energy companies are turning to Mexico as they struggle to find uses for the glut of natural gas that has depressed domestic prices for the fuel. Pipelines are carrying twice as much natural gas to Mexico as they did in 2010.
Bloomberg - President Enrique Pena Nieto’s plan to reduce state-owned oil producer Petroleos Mexicanos’s tax burden while giving it first rights on prospects is enriching investors with Mexico’s biggest bond-market gains.
Reuters - Mexican state power utility CFE said on Monday it had declared force majeure late last week on imports into the Manzanillo liquefied natural gas (LNG) terminal after Hurricane Manuel damaged TransCanada's Guadalajara pipeline.
Bloomberg - Former Mexican President Felipe Calderon is spearheading a study sponsored by seven countries into the economics of climate change, seeking to set out the benefits of reducing carbon emissions.
Reuters - Mexico's state oil monopoly Pemex expects to add 40,000 barrels per day of capacity by 2018 at its No.2 refinery, under a $3.5-billion expansion planned with construction firm ICA Fluor. The first phase of the Tula refinery expansion is underway.
GasWorld - Air Liquide continues its rapid growth in Northern Mexico with new agreements with Altos Hornos de Mexico for the acquisition of an Air Separation Unit. Air Liquide has also secured a new investment of another ASU.
McClatchy - At the Gulf of Mexico port of Altamira last month, huge tankers arrived from Yemen and Nigeria to offload liquefied natural gas at a price four times the market rate. It’s a sign of Mexico’s enormous energy crisis.
Financial Times - Mexico has hedged its oil production for the coming year at the highest price on record, in a striking indication of how stubbornly high oil prices continue to allow producing governments to finance growing budgets.