By KELIN DILLON Halfway through the six-year administration of Mexican President Andrés Manuel López Obrador (AMLO), Mexico’s state-owned oil company Petróleos Mexicanos (Pemex) has lost 38.4 percent of its stake in the world’s energy market, dropping out of the top 10 most important international oil companies. Just in 2017, Pemex ranked highly in value according to British firm Brand Finance’s
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By THE PULSE NEWS MEXICO STAFF Moody’s Analytics, one of the three top credit rating agencies in the world, said Wednesday, Oct. 6, that Mexican President Andrés Manuel López Obrador’s (AMLO) controversial electricity reform initiative would have negative implications for the country’s credit rating. “The initiative would be negative for the Mexican power sector because it would decrease its operational
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By THE PULSE NEWS MEXICO STAFF Despite the fact that Mexican President Andrés Manuel López (AMLO) has repeatedly said that the state-run oil venture Petróleos Mexicanos (Pemex) will no longer use fracking practices to extract oil, Pemex on Wednesday, Sept. 15, presented a request for 11.657 billion pesos for a new fracking extraction project in 2022. The request represented a
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By KELIN DILLON Mexico’s state-owned Federal Electricity Commission (CFE) reportedly loses some 50 billion pesos per year in electricity profits due to thievery in the form of meter manipulation and illicit hanging cables. The Secretariat of Energy (Sener) has made note of some 5.77 million meters across the country that need updating within the next five years to bring them
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By ANTONIO GARZA, former U.S. ambassador to Mexico
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By THÉRÈSE MARGOLIS Despite a dramatic 74 percent uptick in violent crimes, a 7.3 percent increase in poverty, a contraction of the national economy every year since he took office, and, lest we forget, a dismal mismanagement of the covid-19 pandemic that has resulted in the deaths of nearly 260,000 Mexicans (and that’s just based on the official numbers, outside
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By KELIN DILLON The deadly explosion on Mexican oil venture Petróleos Mexicanos’ (Pemex) Ku-Alfa platform in the Campeche Sound, which left five dead and two missing, will now result in a 25 percent loss in production for the state-owned company. A total of 142 wells were closed after the disaster, slowing production by 421,000 barrels of oil a day. “The
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By KELIN DILLON According to figures from the U.S. Department of Energy, Mexico is expected to increase its purchase of natural gas from the United States over 2021 and the upcoming year due to higher demand and less production in Mexico itself. In June of 2021, Mexico reportedly bought more than 7 billion cubic feet of gas on several different
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By KELIN DILLON Early in the morning of Wednesday, Aug. 11, the U.S. Senate confirmed the appointment of Ken Salazar as the new United States ambassador to Mexico after the role remained vacant for more than half a year. “Many of us in the White House and beyond stand on the shoulders of Ken Salazar, a giant in the Latino
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By KELIN DILLON After Mexico’s new nationwide government-imposed limits on the cost of liquified petroleum (LP) gas and the ensuing strikes from the country’s gas unions, President Andrés Manuel López Obrador (AMLO) during his daily press conference on Wednesday, Aug 4, said he will potentially file complaints against any parties who do not respect the new price caps and utilize
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