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Global Energy Advisory - 13th January 2017

Gasolinazo Protest

Politics, Geopolitics & Conflict

• Civil unrest in Mexico over a substantial hike of fuel prices is escalating. The hike, enforced from January 1, was part of government efforts to liberalize the energy market in Mexico and attract foreign investments, as well as to break down the monopolistic status of state-owned major, Pemex. So far, 1,500 people have been arrested and 6 have been killed, as protest rage in 29 states across Mexico. Prices at the pump were increased by between 14 and 20 percent in one go, despite earlier assurances from the government that the rise would take place gradually. The public reaction to the price increase could eventually destabilize the government, which is fighting rising inflation and corruption allegations. Acting to quench the anger that made people take to the street, earlier this week President Pena Nieto’s administration came up with a plan that envisages keeping the prices of staple consumer goods unchanged and also cutting the salaries of senior government officials.

• Nigeria has ordered Taiwan out of the country, for all intents and purposes, in return for billions in Chinese investment. More specifically, Nigeria has ordered Taiwan to move its unofficial embassy, a trade mission, out of the capital Abuja, after China pledged $40 billion in investments and projects for the country. The authorities said that Taiwan would stop enjoying privileges granted to sovereign countries, since Nigeria has never…

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