Mexico has high expectations about results of previous rounds to increase its oil production and reserves. Pedro Joaquín Coldwell, Secretary of Energy, spoke on recent findings in oil fields assigned to private firms.
For the director of the Energy Secretariat (Sener), Pedro Joaquín Coldwell, Energy Reform’s future is assured and its implementation and contracts cannot be reversed, regardless of the results of the upcoming elections or NAFTA Agreement’s renegotiation.
The country is facing tough times in the oil and gas sector, as Pemex is unable to meet local demand, and its production has been decreasing in recent years. Pedro Joaquín Coldwell, Secretary of Energy, spoke about the gas situation.
Energy Reform has opened important business and investment opportunities for Mexico and foreign companies. The country has a strategic location and it could compete with the Panama Canal to export fuel around the world.
Mexico’s leftist parties have been arguing that the Secretary of Finance and Public Credit (SHCP) has allegedly avoided paying royalties’ resources to oil producing states. The development of these and other stories in our periodic Royalties summary.
The Organization for Economic Cooperation and Development (OECD) recommended the creation of a group to exchange information and facilitate procedures within the energy sector. The recommendation was made to the National Hydrocarbons Commission (CNH), the Energy Regulatory Commission (CRE) and the Agency for Safety, Energy and the Environment (ASEA).
An Op-Ed by Jonathan Ruiz, Carlos Rodriguez, Juan Spinetto and Adam Williams says that after the enactment of Energy Reform, the NOC’s ex-directors have not been made part of the new players that have bet on Mexico.