Mexico



Very usefull links



PW
Bookstore





News links

AP

AFP

Aljazeera

Dow Jones

Oil price

Reuters

Bloomberg

Views and News
from
Norway

 

 

 

 

Mexico's Corpamex, major business association unhappy about delay in oil auctions

 

 

 

 

By Dave Graham and Ana Isabel Martinez

MEXICO CITY
Petroleumworld 07 23 2018

A decision to delay Mexican oil auctions until after the next president takes office does not augur well for opening the country's energy sector to private investment, the head of a major business association said on Thursday.

The government said on Wednesday it had postponed auctions scheduled for September and October until next February to give firms more time to consider the blocks on offer.

Last month, it said the auctions would be going ahead as planned.

Incoming President Andres Manuel Lopez Obrador, a leftist, has been a long-standing critic of opening up the oil and gas sector to private capital, and said before the election he would demand the auctions be halted.

Gustavo de Hoyos, president of employers' confederation Coparmex, told Reuters that the only conclusion to draw so far was that the postponement was due to political considerations. He said that sent out a signal that was “not good.”

“We think it's unfortunate that ... political criteria imply an interruption in the rhythm of decisions in the energy sector,” he said in an interview. “Conceptually at least, there's a clear aversion to this process of liberalization.”

The doubts expressed by de Hoyos are one of the first instances of a major business lobby questioning Lopez Obrador's economic vision since his landslide victory on July 1.

Coparmex says it represents more than 36,000 business people accounting for about 30 percent of Mexico's gross domestic product.

Its reservations could presage further pushback against Lopez Obrador after he takes office on Dec. 1 if doubts surface over his stewardship of Latin America's No. 2 economy.

The president-elect clashed with prominent industry leaders during the campaign, but top business executives quickly pledged to work with him after his election win.

Lopez Obrador has said little about the oil auctions since his victory. Senior members of his campaign team did not respond to questions about whether the postponement was agreed between the incoming and outgoing administrations.

Current administration officials said it was up to Lopez Obrador's team to say whether there had been a mutual agreement to delay the auctions. Outgoing President Enrique Pena Nieto says they will generate billions of dollars worth of investment.

Lopez Obrador has pledged to review contracts awarded under the oil and gas liberalization for evidence of corruption, and his designated chief of staff said before the vote the auctions would continue if the process was not tainted.

_________________________

Story by Dave Graham and Ana Isabel Martinez from Reuters.

reuters.com 07 20 2018

We invite all our readers to share with us
their views and comments about this article.
Write to editor@petroleumworld.com

By using this link, you agree to allow PW
to publish your comments on our letters page.

Any question or suggestions,
please write to: editor@petroleumworld.com

Best Viewed with IE 5.01+ Windows NT 4.0, '95,
'98,ME,XP, Vista, Windows 7,8,10 +/ 800x600 pixels

Twitter: @petroleumworld1


November 13 - 15, 2018.

Gubkin University, Moscow
SPE Student Chapter

 

 

 

 

 

 

TOP

Contact: editor@petroleumworld.com,

Editor & Publisher:Elio Ohep/
Contact Email: editor@petroleumworld.com

CopyRight © 1999-2016, Paul Ohep F. - All Rights Reserved. Legal Information

PW in Top 100 Energy Sites

CopyRight©1999-2017, Petroleumworld ™  / Elio Ohep - All rights reservedThis site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission fromPetroleumworld or the copyright owner of the material.