A panel discussion of the outlook for the Mexican energy reform took place on February 26 at the end of the first of a two-day conference. Speakers were Miriam Grunstein, managing principal of Brilliant Energy Consulting, based in Mexico City, and George Baker, publisher of the research service Mexico Energy Intelligence®.
Mexico’s Petroleum Narrative was a topic of comment by the panelists and delegates. Mr. Baker had observed that the Mexican government had not updated its National Petroleum Narrative, which was about past grievances and a belief in the state administration of the oil industry. He said that everyone interested in Mexico to watch to see if, on March 18, President Peña Nieto will attend commemoration of the 1938 Oil Expropriation.
Dr. Grunstein expressed the view that the Petroleum Narrative had changed, but it presently is a “suspended narrative.” She explained that after 76 years of a State monopoly, it would be difficult to embrace a market narrative all at once.
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