Category Archives: Pemex

Press commentary: The constraints of Mexico’s economic agenda

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In an editorial on the print edition of The NY Times this morning there is an article on “Mexico’s Ambitious Economic Agenda,” and, in passing, notes that Carlos Slim owns about 8% of the Class A shares of The New York Times Company. The editorial states that Mexico’s president “wants to allow the country’s state-owned Continue Reading

Expropriation of 1938: A half-fulfilled promise

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Our report 159, issued last week, argues that the oil expropriation of 1938 must be seen as a half-fulfilled promise: it set the table for the creation of a National Oil Company; but having an NOC that only operates in one country is not a good enough reason to celebrate. It would be cause to Continue Reading

The Deeper Meaning of the US-Mexico Transboundary Agreement

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HOUSTON — By GEORGE BAKER Our new report on the US-Mexico Transboundary Hydrocarbon Agreement (TBA) asks about how a venture would be structured in which Pemex and US-licensed oil companies were partners in a joint-venture that would develop a cross-border reservoir. The agreement was signed Feb. 20, 2012. It gave the first possibility of legal Continue Reading

To the Editor: Mary O’Grady, WSJ — Will Mexico Welcome Wildcatters?

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It is a good thing that Mexico’s finance minister was available for an interview to talk about energy. At least he acknowledges that the topic is one that the Journal’s readers would like to hear about. His story-line, however, is but a melodic variation on Brahms’s Lullaby. It is the big picture, not the details, Continue Reading

Explosion at Pemex HQ in Building B-2:

Narratives and counter-narratives

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About 4 p.m. on January 31st, an explosion ripped through three floors of a Pemex administrative building at its headquarters complex in downtown Mexico City. Additionally, the blast—traveling through an underground tunnel—damaged a services building across the street. There were 37 fatalities and some 100 injuries. According to early reports, the explosion originated in the Continue Reading

Reflections on the Incident at Building B-2 of the

Pemex Headquarters Complex

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The explosion in the basement of the building in Pemex’s headquarters complex was not an industrial accident, as the building is not a facility in which petroleum products are processed, transported or sold. The explosion could have taken place in any other building that operated as an administrative center or office building (the Latin American Continue Reading

My Negative Votes on Pemex’s Board

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In MEI Market Note 154, THE LOGIC AND OPTIONS FOR ENERGY REFORM (Jan. 10, 2013), we offer the new Mexican government some unexpected advice: Reject any proposal for changes in CFE or Pemex that aspires to make either company more efficient—but only in Mexico. One of these measures is to merge the three business units Continue Reading