Representatives of public entities spoke about the transparency measures that the government has adopted during the country’s auctions and assured that no company has objected to any of the processes so far.
The government created Energy Reform to promote the development of the oil and electric sector through Foreign Direct Investment (FDI) and private investors. Expectations about the growth of FDI were high, but this metric has not fulfilled these outlooks.
Pemex has been reporting poor results during several years, creating a crisis in the industry. Oil prices above US$100 hid this problem for a while and the country wasted huge amounts of resources generated by the NOC.
The country raised taxes on polluting emission industries, but they are still below the minimum to cover the standard tax per ton of carbon dioxide.
Mexico is facing tough times in its natural gas sector, especially because of low production and its low budget to invest in the sector. However, some of the basins of the country have a huge gas potential, even higher than some United States basins.
Energy Secretary (Sener) Pedro Joaquín Coldwell, spoke about the advantages that the Reform has brought to the country, four years after its implementation.
The Mexican government created Energy Reform with the goal of boosting investment and recovering the energy sector’s poor performance. Hopes are placed on offshore projects in deepwaters of the Gulf of Mexico.
The Mexican government has granted a subsidy to avoid a substantial increase in fuel prices, but this measure cost several billions of Mexican pesos in 2017. José Antonio González Anaya, Secretary of Finance and Public Credit (SHCP) spoke about this matter.