LATEST MEXICO SHALE AND MEXICO ENERGY NEWS:
Tamaulipas hosts Energy Symposium
Southern Pulse Info
Francisco X. Salazar, President of the Regulatory Energy Commission (CRE), gave the opening speech at the Realidad Energética reto para Tamaulipas 2014 conference in Tampico on 19 November 2014. Salazar spoke about the future of business in the energy sector, how Mexican energy reforms would come into action, and the role of the state in energy development. The Tamaulipas governor, Egidio Torre Cantú, Senator David Penchyna, and a number of other leaders from the energy sector attended the symposium.
Banco Interacciones is prepared for the Burgos Basin development
“Today we have the capacity to strategically support the business opportunities that will drive the economic growth for Northern Mexico. We are also in a position to apply the lessons learned from the Eagle Ford experience in South Texas”, Gerardo Salazar Viezca, the General Director for the bank said during a conference last week in Houston. Salazar said that a cross border master plan is needed to promote and drive the basic infrastructure needs for the region. These basic needs include hotels, restaurants, housing, repair garages, and additional basic support that most developed cities are accustomed to having in place.
Pemex wants to build a $6 billion liquefaction facility on Pacific coast of Mexico
Pemex is considering a $6 billion liquefaction facility on Mexico’s Pacific coast near Oaxaca, aimed at opening gas supplies to markets in Asia. Pemex gas and basic petrochemicals director Alejandro Martinez Sibaja said the planned liquefaction facility is the second phase of Pemex´s Trans-Oceanic belt project that will connect the Pajaritos complex in the Gulf coast state of Veracruz to the Salina Cruz oil refinery, in Oaxaca, on the Pacific coast.
Investment analysts positive on Mexico growth
The new provision is “symbolic” more than anything else, Fernando Losada, a Latin America economist at AllianceBernstein LP, said in a telephone interview from New York. “It’s very hard to envision a scenario in which Mexico is going to have a problem down the road.”
Economic growth in Mexico, which sends about 80 percent of its exports to the U.S., will accelerate to about 5 percent starting in 2016 as President Enrique Pena Nieto’s changes to oil and telecommunications laws kick in, according to government forecasts.
“Our positive outlook on Mexico is predicated on the raising of potential growth,” Fidelity’s Hagerty said. “But also just looking at its trade and financial ties to the U.S. and putting it in the context with our outlook for global growth for the U.S., Mexico is on the verge here of being able to benefit.”