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Mexico Is Quietly Pushing Out Foreign Oil Investors By Haley Zaremba - Dec 16, 2020, 12:00 PM CST
For nearly 80 years, Mexico kept its borders closed to foreign oil interests, with the state-owned and -run Petroleos Mexicanos (Pemex) being the only entity allowed to drill for gas in Mexican territory. In 2017, then-president Enrique Peña Nieto opened up Mexico’s considerable oil reserves to foreign oil companies and investors for the first time in nearly a century, but the long ailing Pemex has shown few signs of improvements thanks to the injections of foreign cash in recent years. The last time foreign interests were permitted to invest in Mexican oil, it did not end well. The Mexican president at the time Lázaro Cárdenas seized foreign actors’ assets, used them to create the aforementioned nationalized oil monopoly Pemex, and exiled all international competitors. And now, nearly a century later, it’s looking as if history just may be set to
Environmental News For The Week Ending 13December 2019
This is a collection of interesting news articles about the environment and related topics published last week. This is usually a Tuesday evening regular post at
GEI (but can be posted at other times).
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Note: Because of the high volume of news regarding the coronavirus outbreak, that news has been published separately:
Summary:
New US Covid cases were at a record 247,737 on Friday on the worldometers site that I watch; that would be nearly 40% of all the new infections reported worldwide on that day as per that site.However, the Johns Hopkins dashboard is showing a record 1,489,000 new Covid infections worldwide on that date, more than double any previous one day total..I have to assume that s in error, and my best guess would be that somehow the data was entered twice, and they ll eventually correct it.Regardless, whatever the a
In Mexico, US energy firms face a slow rolling expropriation
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Mexican President Andres Manuel Lopez Obrador with United States Trade Representative Robert Lighthizer (R) and Canadian Vice-Prime Minister Chrystia Freeland in Mexico City in 2019. U.S energy companies say the Lopez Obrador government has violated at least the spirit of the U.S. Mexico Canada Agreement by undermining Mexico’s energy reforms to favor the old state-owned energy companies over new foreign competitors.RODRIGO ARANGUA, Contributor / AFP via Getty ImagesShow MoreShow Less
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Construction underway at the site of a $7.7 billion oil refinery, in Paraiso, Mexico. President Andrés Manuel López Obrador has suggested he wants the return monopoloy control of the oil and gas industry to Pemex, despite six-year old reforms to open energy markets to competition.CELIA TALBOT TOBIN, STR / NYTShow MoreShow Less
In Mexico, US energy firms face a slow rolling expropriation
FacebookTwitterEmail
1of4
Mexican President Andres Manuel Lopez Obrador with United States Trade Representative Robert Lighthizer (R) and Canadian Vice-Prime Minister Chrystia Freeland in Mexico City in 2019. U.S energy companies say the Lopez Obrador government has violated at least the spirit of the U.S. Mexico Canada Agreement by undermining Mexico’s energy reforms to favor the old state-owned energy companies over new foreign competitors.RODRIGO ARANGUA, Contributor / AFP via Getty ImagesShow MoreShow Less
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Construction underway at the site of a $7.7 billion oil refinery, in Paraiso, Mexico. President Andrés Manuel López Obrador has suggested he wants the return monopoloy control of the oil and gas industry to Pemex, despite six-year old reforms to open energy markets to competition.CELIA TALBOT TOBIN, STR / NYTShow MoreShow Less
U S fuel industry frazzled as Trump EPA misses 2021 biofuel volumes deadline reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.