Mexican News
The latest news from and about Mexican issues.Tuesday, July 22, 2008
Pemex May Drill Abroad for First Time If Reforms Fail.
Bloomberg, July 22, 2008 - “Petroleos Mexicanos, struggling as oil production declines, may drill for crude outside Mexico for the first time unless lawmakers approve hiring foreign partners for domestic offshore projects. Chief Executive Officer Jesus Reyes Heroles said the company, known as Pemex, may court partners on the U.S. side of the Gulf of Mexico, off the coast of Cuba and in Latin America unless Congress adopts oil reforms proposed by President Felipe Calderon. Pemex needs foreign help because it doesn’t have the technology to drill in water deeper than 500 meters (1,640 feet), he said.” Read more.
Mexican president visits Juarez.
El Paso Times, July 22, 2008 - “Three murders in public areas and a small group of protesters greeted Mexican President Felipe Calderon during his trip Tuesday to Juárez. During his visit, Calderon praised maquiladoras, vowed to strengthen the country’s oil company and the city’s security efforts. Calderon helped inaugurate the second Electrolux assembly plant in the city, and also mentioned the recent maquiladora expansions announced by Ford and Foxconn.” Read more.
Pemex Oil Production Falls 11% in June on Aging Field.
Bloomberg, July 22, 2008 - “Petroleos Mexicanos, the state-owned energy company, said oil output fell 11 percent in June from a year earlier as new wells failed to keep pace with a four-year decline in the aging Cantarell field, the nation’s largest. Production dropped to 2.839 million barrels a day in June from 3.206 million a year earlier, the Mexico City-based company, known as Pemex, said today on its Web site. At Cantarell, where a drop in pressure is making it more difficult and costly to extract oil, the company pumped 1.017 million barrels a day, down 35 percent from a year earlier and the fastest rate of decline in 12 years, Pemex said.” Read more.
Maquila bordering New Mexico to employ up to 30,000.
El Paso Times, July 22, 2008 - “A Taiwan-based company will open a massive maquiladora across the border from Santa Teresa that will employ anywhere from 20,000 to 30,000 people in the next four years and create an economic boost on both sides of the border, officials said Monday. The plant, which may be the largest in Mexico, will be in San Jeronimo, according to an announcement by New Mexico Gov. Bill Richardson’s office Taiwan-based Foxconn broke ground a few days ago, officials said.” Read more.
Sunday, July 20, 2008
Mexican President Demands Energy Reform By Consensus.
RedOrbit, July 20, 2008 - “ The political forces represented in the Congress of the Union must reach an agreement to approve an energy reform that includes the different viewpoints of all of the parties, President Felipe Calderon Hinojosa said. The federal chief executive started up a programme to improve the air quality in the Guanajuato cities of Salamanca and Leon, where pollution rates are very high because of intense industrial activity. There, accompanied by oil workers’ union leader Carlos Romero Deschamps, Energy Secretary Georgina Kessel, and Mexican Petroleum (Pemex) Director General Jesus Reyes Heroles, the president asked legislators to reach a consensus on a pluralist energy reform.” Read more.
Friday, July 18, 2008
Bridges, not walls.
Newspaper Tree, July 18, 2008 - “In his poem ‘Mending Wall,’ Robert Frost was not advocating that ‘Good fences make good neighbors.’ The reference is to a statement by his neighbor who believes in keeping the fence between his property and the persona in the poem in good repair. We assume the persona in the poem is Robert Frost whose opinion is: ‘Something there is that doesn’t love a wall.’ In the current flap over building a wall between Mexico and the United States, it would be well to keep in mind Robert Frost’s injunction “something there is that doesn’t love a wall.” That “something” is that a wall is a barrier.” Read more.
Pemex Plans Fuel Supply Reduction.
La Prensa, San Diego, July 18, 2008 - “In an unpopular move, Mexico’s state-owned Pemex oil company announced it will reduce gasoline supplies for Baja California soon. Ramiro Zuniga Salazar, president of the Onexpo Baja Gasoline Station Operators Association, said Pemex informed gas station operators in a July 7 letter that it would begin reducing gasoline deliveries of the Magna brand from 80 million liters to 72 or 74 million liters per month. A gallon is equivalent to 3.8 liters. Coming on top of diesel shortages in recent weeks, the decision spurred worries of negative economic consequences for different economic sectors.” Read more.
Thursday, July 17, 2008
Mexican capital to reduce harmful gases.
Yahoo News/AP, July 17, 2008 - “The government of notoriously polluted Mexico City is promising to cut harmful greenhouse gas emissions 12 percent by 2012. The city says it will spend about 60 billion pesos (US$5.8 million) to achieve the goal. Half the funds will come from the local government, and the rest will come from carbon credits and private investment.” Read more.
The benefits of doing business in Mexico.
Arizona Business Gazette, July 17, 2008 - “Mexico is not the manufacturing destination it used to be. Maquiladora plants have closed as Mexican labor costs got undercut by cheaper workers in Asia. North American Free Trade Agreement issues have taken a back seat to rapid trade expansion with the giant developing countries of Asia. [snip] But a few stars might be lining up in Mexico’s favor, perhaps putting the country back in the limelight. For example, soaring fuel prices make it more expensive to ship goods from Asia and more costly to fly executives to and from meetings overseas. Plus, the weaker dollar and rising inflation in China have pushed up manufacturing costs there, while congestion at the major Southern California ports can mean snafus for importers who don’t plan ahead.” Read more.
Tuesday, July 15, 2008
Mexico City to Consult Public on Calderon Energy Bill .
Bloomberg, July 15, 2008 - “Mexico City’s government will hold a non-binding referendum this month on President Felipe Calderon’s plan to give the state oil monopoly more leeway to hire private companies, possibly giving ammunition to opponents of the bill. The local government, controlled by the opposition Party of the Democratic Revolution, or PRD, will ask residents two questions: if they agree with the proposal and whether they approve of private participation in the oil industry, Mexico City deputy secretary Juan Jose Ochoa said in a statement today.” Read more.
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