By THE PULSE NEWS MEXICO STAFF If President Andrés Manuel López Obrador’s (AMLO) controversial electricity reform bill — which would prioritize the use of contaminating carbon-based sources over clean alternatives — passes in Congress, the use of sulfur-heavy bunker oil, or combustóleo, in Mexico could increase by up to 1,109 percent per year, according to the 21st Century Power Partnership
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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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XINHUA Mexico has requested a dispute resolution panel be set up under the United States-Mexico-Canada Agreement (USMCA) to resolve differences with Washington in the interpretation of automotive content rules, the Mexican Economy Secretariat said Thursday, Jan. 6. “Mexico believes that a panel decision will provide confidence to the automotive industry for the benefit of the region’s competitiveness,” the secretariat said
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By KELIN DILLON In new data revealed on Thursday, Jan. 6, by the Mexican Secretariat of Finance (SHCP), Mexico’s difference between income and public sector spending reached 472.8 billion pesos in 2021, the largest deficit the country has seen in the last six years. Between January and November of 2021, Mexico brought in some 5.2 trillion pesos through tax revenue,
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By THE PULSE NEWS MEXICO STAFF A full 17 months after his extradition to Mexico from Spain, Mexico’s Attorney General’s Office (FGR) asked a federal judge to sentence former Petróleos Mexicanos (Pemex) Director Emilio Lozoya to 39 years in prison for allegedly taking bribes from the Brazilian construction company Odebrecht. In a letter delivered to Judge Artemio Zúñiga Mendoza of
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By KELIN DILLON On Wednesday, Dec. 22, the U.S. government approved Mexico’s state-owned oil company Petróleos Mexicanos’ (Pemex) $596 million purchase of Shell’s Texas refinery Deer Park, with the acquisition planned to be finalized within the first few weeks of 2022. “The purchase shows a good relationship between the United States and Mexico,” said Mexican Secretary of Foreign Relations Marcelo
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The Siphoning of Pemex
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By KELIN DILLON In an attempt to reduce its foreign debt, Mexico’s state-owned fuel company Petróleos Mexicanos (Pemex) received $3.5 billion in bond buybacks from the Mexican federal government, the country’s Secretariat of Finance (SHCP) reported on Tuesday, Dec. 7. This financial injection is equivalent to 74 billion pesos, about half the annual budget given to Mexico’s Secretariat of Public
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By THE PULSE NEWS MEXICO STAFF Without bothering to offer a public tender, Mexico’s state-run and highly indebted oil giant Petróleos Mexicanos (Pemex) granted a contract of 37.341 billion pesos to two of its own subsidiaries for the lease of new oil tanker trucks in November. The contract constitutes the largest directly awarded so far during the current administration of
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By KELIN DILLON Though Mexican President Andrés Manuel López Obrador’s (AMLO) under construction Dos Bocas refinery maintains its planned July 1, 2022, launch date, new reports reveal the crude oil processing plant will take more than a year to operate at full capacity, which is anticipated to occur in September of 2023. As per López Obrador’s schedule, the full operations
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