FACTBOX-Mexico energy reform debate

Fri Aug 1, 2008 12:28pm EDT
 
[-] Text [+]

Aug 1 (Reuters) - Latest developments as Mexico's ruling conservatives court opposition lawmakers to approve an energy reform to allow more private investment in the state-controlled oil industry in hopes of bolstering falling output.

Compiled from Reuters stories, Mexican newspaper reports, television and radio.

** President Felipe Calderon said he welcomes all energy reform proposals that opposition parties might make, Reforma newspaper reported. A senior lawmaker from Calderon's party said they will study a proposal expected to be made soon by leftists.

** Aimed at shoring up flagging production and reserves in the world's No. 6 oil producer, Calderon proposes to let state monopoly Pemex sweeten oil field service contracts with private companies using performance-based bonuses. Left-wingers say that would violate a ban on private companies exploring for and producing oil in Mexico.

** Leftist leader Andres Manuel Lopez Obrador repeated threats of street protests if Calderon and a centrist party team up to push the government's proposal through Congress, El Financiero newspaper reported.

** Mexican and U.S. officials will meet soon to discuss a possible deal on cross-border oil fields in the Gulf of Mexico, El Universal newspaper reported, citing anonymous Mexican officials. (Reporting by Jason Lange in Mexico City; Editing by Marguerita Choy)

 

commentary

An investor uses his mobile phone at the Dubai Financial Market December 1, 2009. REUTERS/Mosab Omar
Is Dubai bad news for the rest of us?

Financial markets went down on Dubai because they have become addicted to moral hazard and anything that doesn't conform with the idea that all shall be bailed out is scary.  Commentary