Sentido Comun - The Association of Banks of Mexico said that 14 banks will receive Luz y Fuerza del Centro payments without charging commission until further notice. The group added it will also be possible to pay overdue bills without penalty.
Dow Jones - Mexico's state oil monopoly Petroleos Mexicanos, or Pemex, said Wednesday it will leave the constants for pricing its crude exports to the U.S. unchanged in November. The discount on heavy Maya crude shipments will remain at $2.95 a barrel, the discount on light Isthmus crude will stay at $1.50 a barrel.
Sentido Comun - Tradeco Infraestructuras won a tender for 705 million pesos ($53.98 million) from Petroleos Mexicanos, the state petroleum monopoly, for construction of fuel storage infrastructure in Tuxpan, Veracruz. www.sentidocomun.com.mx/
The News - The federal government will evaluate in "coming weeks" whether Comision Federal de Electricidad will remain in charge of Luz y Fuerza del Centro or a new state company will be created. Officially, under the government decree, the secretary of energy will have until Oct. 14 to publish the legal conditions to start liquidating Luz y Fuerza.
Reuters - Mexican Energy Minister Georgina Kessel said the shutdown of an inefficient federally run power utility is part of a broader policy to make state companies more efficient but declined to answer whether broad changes are planned for state oil company Pemex. www.reuters.com/article/companyNews/idUSN1319062220091013
The News - Mexico's closure of an inefficient state power utility is expected to create big public savings and could make room for the government to soften its tax hike plan, Finance Minister Agustin Carstens said on Monday.
Los Angeles Times - Angry electrical workers on Monday asked Mexico's Congress to help them reverse the government's decision to disband the state-run utility that supplies electricity to Mexico City and several neighboring states. The union, representing 66,000 current and retired workers, also plans protests later this week.
La Jornada - Mexico has become the third largest supplier of crude to the United States by volume in 2009, after Canada and Venezuela, overtaking Saudi Arabia in sales per month. Exports of Petroleos Mexicanos crude to the United States during the first eight months of the year were 258 million barrels, versus 279 million in the same period in 2008.www.jornada.unam.mx/
Houston Chronicle - The president of a San Antonio company, Stephen Pechenik of Valley Fuels, pleaded guilty Friday to charges that he conspired to receive and sell petroleum stolen from Mexican oil giant Pemex. In 2007, Mexican authorities told U.S. officials that members of the Gulf Cartel's armed enforcement wing, Los Zetas, had tapped into Pemex pipelines and sold the petroleum as another way to make money besides illegal drugs.
Calgary Herald - The seemingly safe harbour Calgary drilling firms have found in the Chicontepec oilfield in Mexico has been rocked by uncertainty as Mexico’s recently formed National Hydrocarbons Commission said that development of the reserves in east-central Mexico should be halted “until Pemex has a proper development plan.”