• 6 days Retail On Pace For Most Bankruptcies And Store Closures Ever In One Year: BDO
  • 10 minutes America Could Go Fully Electric Right Now
  • 8 days Majors Oil COs diversify into Renewables ? What synergies forget have with Solar Panels and Wind Tirbines ? None !
  • 8 mins Most ridiculous green proposal
  • 6 hours The Green Hydrogen Problem That No One Is Talking About
  • 2 hours Rethinking election outcomes for oil.
  • 19 hours China Sets Its Sights On Global [EV, AI, CRISPR, Fusion, Navel Lint Collector] Dominance
  • 1 min Biden's laptop
  • 13 hours The City of Sturgis Update on the Motorcycle Rally held there, and the MSM's reporting hence
  • 40 mins P@A will cost Texas Taxpayers $117 Billion.
  • 3 hours QUESTION: With worldwide 1.4 Billion passenger vehicles and 360 Million commercial vehicles using combustion engines how long before gasoline and distillates measurably decline. .
  • 6 hours Video Evidence that the CCP controls Joe Biden
  • 2 days Republicans Have Become the Party of Hate
  • 7 hours Making diamonds from thin air
  • 2 days Australia’s Commodities Heartland Set for Major Hydrogen Plant
James Burgess

James Burgess

James Burgess studied Business Management at the University of Nottingham. He has worked in property development, chartered surveying, marketing, law, and accounts. He has also…

More Info

Carlos Slim Positions Himself to Benefit from the End to Pemex’s Monopoly

Last month Enrique Pena Nieto, the President of Mexico, announced that he would introduce energy market reforms that would encourage private capital investment into the national oil industry, effectively ending Petroleos Mexicanos’ (Pemex) monopoly of the Mexican oil industry.

Carlos Slim, the Mexican billionaire business tycoon, and richest man in the world, is set to take full advantage of this new opportunity to further increase his control over the countries commodity markets.

Lately Slim has been increasing his involvement in the energy markets in order to give him an advantage for when the time comes that Mexico’s market reforms come into effect later in the year.

Related article: THE Game-Changing Mexico Opportunity

Carlos Slim
Carlos Slim is positioning himself to benefit from the end to Pemex’s monopoly.

Grupo Carso, the conglomerate managed by Carlos Slim, owns retail stores and industrial manufacturers in Mexico, but also runs the companies Servicios Integrales GSM, Swecomex, and Infraestructura y Construcción, which already provide drilling and oil platform services to Pemex, the world’s second largest non-publically listed company.

In February, Grupo Carso bought a 70% stake in Tabasco Oil Co. to give it access to the Colombian oil industry, and on the 3rd of July the company announced to the Mexican stock market the discovery of oil in northeast Colombia in the project known as Jagüeyes 3432-B. Slim is interested in increasing his investments in the Colombian oil industry due to the country’s open policies on exploration.

Related article: The “Mexico Explosion” in Natural Gas

Slim also bought an 8.4% stake in the Argentinian state owned energy company Yacimientos Petrolíferos Fiscales (YPF), making him the fourth largest shareholder. He also invested in American oil service companies Bronco Drilling Co., and Allis-Chalmers Energy Inc.

Samuel Garcia, the senior financial journalist and Editor of Arena Publica, commented that “there is no doubt that Slim will be one of the most important private players in the potential opening of Mexico’s energy sector. Carso already has the framework to do business in Mexico’s oil sector in a substantial way.”

By. James Burgess of Oilprice.com



Join the discussion | Back to homepage



Leave a comment

Leave a comment

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