Energy

Energy

Mexico hedges oil at highest price on record

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.

www.ft.com/intl/cms/s/0/ec038a60-206b-11e3-9a9a-00144feab7de.html#axzz2fLSItJCl

Mexico proposes new tax regime for Pemex

Reuters - Mexico's government on Sunday proposed replacing state oil monopoly Pemex's heavy taxation scheme with a new, more flexible regime similar to those faced by private companies.

www.reuters.com/article/2013/09/09/us-mexico-economy-pemex-idUSBRE9870ID20130909

VW to buy power from La Bufa wind farm

Recharge - German automaker Volkswagen’s Mexican unit has signed a 20-year agreement with Mexico Power Group to buy 130MW-worth of output from the planned La Bufa wind farm. The $360 million La Bufa plant will have a total capacity of 180MW.

www.rechargenews.com/wind/americas/article1336650.ece

Risks about in Mexico energy reform

OilPrice.com - Much has been made of Mexico's plans to update its oil laws, allowing foreign companies a role in the industry for the first time in decades. How serious investors should take the news depends on how the political process plays out in Mexico.

oilprice.com/Geopolitics/South-America/Risks-Abound-in-Mexicos-New-Oil-Laws.html

Petrofac sees opportunities in Mexico energy reform

Reuters - British energy services firm Petrofac Ltd said it was well placed to capitalize on increased investment in oil and gas projects in Mexico as the country opens up its energy industry, even if the reforms mean more competition.

uk.reuters.com/article/2013/08/27/uk-petrofac-results-idUKBRE97Q08S20130827

Tenaris, Ternium and Tecpetrol to build power plant

Marketwired - Tenaris, Ternium and Tecpetrol International announced a memorandum of understanding to jointly build and operate an 850-900MW natural gas-fired electric power plant in Nuevo Leon to supply Tenaris's and Ternium's facilities.

www.marketwire.com/press-release/tenaris-ternium-and-tecpetrol-to-build-and-operate-power-plant-in-mexico-nyse-ts-1822036.htm

Fight over ex-president marks oil reform debate

AP - The son of Mexico's most revered president, known for nationalizing the oil industry, says his dad is rolling in his grave. In fact, both sides in the debate over opening Mexico's oil industry are using the image of former president Lazaro Cardenas.

abcnews.go.com/International/wireStory/fight-president-marks-mexicos-oil-debate-19984495

Pemex to pay income tax on exploration, drilling

Reuters - State oil monopoly Pemex would pay income tax on exploration and extraction of oil and gas under new fiscal rules in the government's proposed energy sector overhaul, Finance Minister Luis Videgaray said in a newspaper column on Thursday.

www.reuters.com/article/2013/08/15/mexico-reforms-idUSL2N0GG0SI20130815

Electricity sector is part of energy reforms

Dow Jones - The Mexican government's plan to overhaul the energy sector has put a spotlight on oil and gas, but the proposal also aims to revamp another area with potential for big investment: Electricity.

online.wsj.com/article/SB10001424127887324085304579010993985696728.html

Opinion: Mexico energy reform too timid

Cato Institute - Mexico's energy reform proposal has been much heralded. However, even though the reform aims at relaxing the Pemex's grip on oil production, it falls short of significantly opening the sector to much needed private investment.

www.cato.org/blog/mexicos-timid-energy-reform

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