• 9 minutes WTI @ 67.50, charts show $62.50 next
  • 11 minutes The EU Loses The Principles On Which It Was Built
  • 19 minutes Batteries Could Be a Small Dotcom-Style Bubble
  • 5 hours Permian already crested the productivity bell curve - downward now to Tier 2 geological locations
  • 8 hours How To Explain 'Truth Isn't Truth' Comment of Rudy Giuliani?
  • 13 hours Saudi PIF In Talks To Invest In Tesla Rival Lucid
  • 15 hours Japan carmakers admits using falsified emissions data
  • 6 hours Starvation, horror in Venezuela
  • 4 hours Saudi Fund Wants to Take Tesla Private?
  • 1 hour Desperate Call or... Erdogan Says Turkey Will Boycott U.S. Electronics
  • 4 hours Corporations Are Buying More Renewables Than Ever
  • 11 hours China still to keep Iran oil flowing amid U.S. sanctions
  • 13 hours China goes against US natural gas
  • 13 hours Western Canada Select price continues to sink
  • 1 hour Film on Venezuela's staggering collapse
  • 10 hours Are Trump's steel tariffs working? Seems they are!
Alt Text

The Real Leader In Global Energy Production

Last week President Trump was…

Alt Text

Oil Prices Take A Breather As Supply Jumps

Oil markets took a breather…

Editorial Dept

Editorial Dept

More Info

Trending Discussions

Pemex Modernization: A “Mexican Moment”?

Bottom Line: After being stalled a week over tough back room negotiations, Mexican President Enrique Peña Nieto has now formally publicized his proposal for the “modernization of Pemex”

Analysis: On 12 August, President Enrique Peña Nieto (PRI) formally publicized his proposal for the “modernization of Pemex.” Back room negotiations stalled the announcement (which was expected last week) as Peña Nieto and his advisors met with their counterparts from the PRD who oppose the reforms. On the question of constitutional prohibitions on foreign investment in the energy sector, Peña Nieto hopes to amend Articles 27 and 28 to permit Mexico to issue concessions—although not concessions that include ownership of any oil or gas extracted. Mexico retains possession of the natural resources, but can now enter into risk- and profit-sharing partnerships with foreign investors. Yet Peña Nieto carefully lays out an argument built on the very words of Lázaro Cárdenas, the president who nationalized the oil sector in 1938.

Ever since, resource nationalism is a point of pride for Mexican politicians as well as the Mexican public. But Cárdenas himself stated that in the future, the nation should be able to enter into state-regulated concessions with outside actors.

Although Mexicans are dissatisfied with the retail facing side of Pemex, which has a monopoly on gas stations in Mexico,…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin

Trending Discussions





Oilprice - The No. 1 Source for Oil & Energy News