Despite uncertainty over energy prices and domestic politics, Round 2.1 was quite successful, with contracts awarded for 10 out of 15 shallow-water blocks. Indeed, Secretary of Energy Pedro Joaquin Coldwell said that the first tender yielded “splendid results.” He estimated that the contracts will entail investments of $8.1bn throughout their 35-year duration, creating 82,000 direct
Pena Nieto is facing growing accusations of corruption and political incompetence, not only from the opposition but also from PRI members outside of the administration. As a result, although he has more than one year before leaving Los Pinos, Pena Nieto is already preparing for the endgame. His three main priorities are determining the PRI’s
Elections in the states of Mexico, Coahuila, Nayarit and Veracruz on 4 June have raised many pressing questions in the Mexican political sphere. Voting in each of these states has its own local implications, but at the national level their effects are crucial, leading parties to revise strategies, make internal rearrangements and consider external alliances.
On 4 June the State of Mexico will elect a new governor. With a population of 17mn, including more than 11mn voters, the state is the most coveted prize for Mexico’s political parties, particularly as the launch pad for the 2018 presidential elections. As a result, in the state’s gubernatorial campaigns, candidates often exchange corruption
On 15 May, Marcelo Odebrecht, the former CEO of Brazilian construction conglomerate Odebrecht, made a statement to the Mexican Attorney General’s Office (PGR) on the company’s corrupt involvement with Pemex between 2010 and 2014. Specifically, Odebrecht is accused of operating a network to bribe Pemex officials in exchange for infrastructure development contracts.
Pemex has adjusted to Mexico’s new energy regulatory framework and is finally recovering from two years of declining international oil prices. On 2 May Pemex released its Q1 2017 financial report, which showed it had made a profit for the second consecutive quarter. Pemex’s Q1 profit of 88bn pesos ($4.6bn) was a massive turnaround from
Earlier this week Pemex released an official report containing information on hydrocarbons theft from 2014 to 2016. The number of illegal siphons rose dramatically from 3,635 in 2014 to 6,873 last year. The problem is more acute in the states of Tamaulipas, Veracruz, Jalisco, Guanajuato, Puebla and the State of Mexico. On average, hydrocarbons theft
On 15 April, former Veracruz governor Javier Duarte was captured in Pangachel, a tourist resort in Guatemala. Guatemalan law enforcement agencies arrested Duarte after a formal petition from Mexican intelligence agencies, which had located the fugitive Mexican politician.
According to the most recent available data, security conditions are worsening throughout Mexico. Homicides have risen for three years, reaching unprecedented levels in some regions. The total number of homicides rose to 22,935 in 2016, a continued increase from 18,673 in 2015 and 17,324 in 2014. According to the Executive Secretariat of the National System
CRE was slated to release the results of the first call of the Open Season, the bidding round to reserve midstream capacity from Pemex Logistics, on 15 March. Instead, the agency recently announced that the bidding round would be delayed for another two weeks. Companies had submitted their bids on 10 March, and transport and