The Federal government made a big bet in the Energy Reform to boost the oil sector. It had many critics at the beginning, but the results of past rounds were very positive. Pedro Joaquín Coldwell, Secretary of Energy, talked about the reform and its prospects.
Round 2.1 results were very positive for the Mexican government. Expectations were high and participants fulfilled these. The National Hydrocarbons Commission (CNH) highlighted the number of offers per block in this round.
The government created Energy Reform to boost the sector and help Pemex overcome its financial crisis. There were many critics of this process, but it has generated positive results for the country in a short time. The Mexican Institute of Finance Executives (IMEF) wrote an article about its opinion of the Reform.
The country has signed many exploration and production contracts to boost the oil sector, since it is facing tough times. Pemex production has fallen and will continue this tendency in the short and medium term. Fitch talked about the sector and its perspectives.
Ciudad del Carmen is an important place for the Mexican oil industry. The industry will develop several projects and the city is optimistic about the results. Shell (LON: RDSB) and Total E&P (NYSE: TOT) are preparing to start working there.
The oil sector became one of the main sources of income for the Mexican State, but Pemex problems and the recent oil crisis affected this. Jose Antonio Meade, Secretary of the Finance, talked about this situation.
The Mexican Republic Oil Workers Union (STPRM) complained about the dismissal of over 2,000 workers, while its president Carlos Romero Deschamps was accused again of being involved in an oil theft network. These and other stories in our periodic summary of labor-related issues.