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Mexico

EPN Announces Competence in Gas, Diesel Offering

Mexican president affirms that plans to open bidding on public projects will continue despite Pemex's financial woes and plummeting worldwide oil prices

2 years ago

BY CARMEN GUDIÑO

The News

Starting April 1st, there will be diverse companies offering diesel and gasoline in Mexico, announced president Enrique Peña Nieto, during his participation in the most important forum in the energy industry, that took place in Houston, Texas.

The head of the government remembered that with the Energy Reform gradual changes will be made so that in 2018 Mexico will have a completely open and liberalized combustibles market.

“As part of this process in 2017, companies besides Pemex will be able to import combustibles, nonetheless I’d like to announce that we are going to expedite this process to start on the first of April 2016 of this same year, in allowing any business to import gasoline and diesel, which will be reflected in better prices in our country,” he said.

The president told the most important oil investors in the world, that our country would keep the bidding open on the contacts for the extraction of hydrocarbonates.

As proof, during the first days of next December, the fourth bidding for round one will take place, corresponding to exploration sites located in the Gulf of Mexico.

The president argued that apart from the price of oil in the short term, Mexico is determined to have the technological and financial capacity and risk management sufficient for large scale projects.

For the president of the Republic, this opening to imports from third parties is a forceful action that will detonate a strong private investment and allow to exist a healthy competition in the combustibles sector.

“Despite low international prices of crude oil, the world is trusting and investing in Mexico, all of the contract bidding processes planned in 2015 happened with escalating levels of success. This is not the moment to lag behind, it is the moment to go forward,” he said.

The president insisted that the Mexican State would keep on implementing Energy Reform based in the highest standards of transparency and accountability, that it would continue working because the energy sector is characterized by regulatory and contractual practices that give total certainty to the investors and maintain a competitive, stable fiscal brand.

“Independently of what is happening on the world stage, Mexico continues forward in its implementation of the Energy Reform. In the same way we resolved to implement the Energy Reform, now we are committed to fight for its fair, efficient, and opportune implementation,” he vowed.

The president also referred to the situation that faces Pemex. He signaled that the agency faces great challenges, but also enormous opportunities, and that similarly to the other oil producers of the world the challenges are derived from low international gas prices that have to rise with the implementation of intelligent financial decisions.

“Pemex will have to focus on reducing its spending and strive for the best efficiencies. It will have to prioritize its investments and above all take advantage of the opportunities of association that this very Energy Reform will permit,” he affirmed.

In this meeting the president received the ISH Global Energy Lifetime Achievement Award for the Energy Reform in Mexico. This is the second occasion that the prize has been awarded to those who have been able to impact the energy sector in a significant, transformative way.

The president, upon receiving the keys to the City of Houston from Mayor Sylvester Turner, said that Mexico and the United States share a goal of integration for the benefit of both nations.

“This is the vision that my government has, to promote this productive and competitive integration with North America, and especially, as we have shared, to make a broad recognition of Mexican migrants, American citizens of Mexican origin now form part of the development of this country,” he said.

Mayor Turner acknowledged the profound relationship with Mexico.

“Houston and Mexico share close cultural and economic ties, as well as our great cooperation in the energy sector. Our city appreciates our high regard to Mexico and our cultural and civic contributions from the vibrant Mexican community in Houston,” he said.

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