Tag Archives: Octavio Romero

AMLO Administration Proposes 4.4 Billion Peso Budget Slash to the INE

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By KELIN DILLON After years of threatening to reduce the efficacy of Mexico’s National Electoral Institute (INE), Mexican President Andrés Manuel López Obrador’s (AMLO) administration and National Regeneration Movement (Morena) – acting under López Obrador’s Fourth Transformation (4T) campaign promise – finally attempted to make good on its promise, proposing to slash the INE’s requested budget for 2023 by 4.475

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Mexico to Take Control of Deer Park on Jan 20

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By THE PULSE NEWS MEXICO STAFF Mexico’s financially strapped state-run oil company Petróleos Mexicanos (Pemex) is slated to take control of the Deer Park refinery, located in Texas, on Thursday, Jan. 20, in accordance with a purchase agreement with the Anglo-Dutch transnational corporation Royal Dutch Shell, which currently owns half of the oil processing plant. In May of last year,

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What the Moody’s Downgrade Means for Pemex…and Mexico

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By THÉRÈSE MARGOLIS When the international rating agency Moody’s Analytics downgraded Mexico’s state-run oil giant Petróleos Mexicanos credit again earlier this week — this time to out-and-out “junk” with a “negative outlook” — it should have set alarm bells ringing nationwide as to the country’s credibility with investors and lenders. Moody’s new rock-bottom Ba3 rating — based mostly on the

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AMLO Aims to Renegotiate Energy Contracts Following Electric Reform

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By KELIN DILLON Following the approval of Mexican President Andrés Manuel López Obrador’s (AMLO) controversial electricity reform bill, López Obrador said Mexico would be rewriting existing contracts with electrical companies “to update them to the new reality.”  The bill gives Mexico’s state-owned Petróleos Mexicanos (Pemex) priority uploading of energy the also-state-owned Federal Electricity Commission (CFE) power grid, above private companies,

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Pemex Slowly Returning to Productivity

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By RICARDO CASTILLO   One of several reasons why Andrés Manuel López Obrador (AMLO) won the 2018 Mexican presidential elections was his protest against former President Enrique Peña Nieto’s energy reform. Back in 2013, AMLO demanded that a referendum be held during the 2015 mid-term election to seek voters’ approval of the reform. Peña Nieto refused to carry out that

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AMLO Takes Fitch Credit Downgrade Personally

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By RICARDO CASTILLO     It’s hard to understand why Mexican President Andrés Manuel López Obrador (AMLO) reacted viscerally to the two-level downgrading New York-based Fitch Ratings made of the state-owned oil company Petróleos Mexicanos (Pemex) last Tuesday, Jan. 29. In any case, if there is going to be a culprit for the heinous performance of Pemex finances, it is none other than

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