1. The Future of PEMEX
- Author:
- Lourdes Melgar
- Publication Date:
- 03-2014
- Content Type:
- Journal Article
- Journal:
- Americas Quarterly
- Institution:
- Council of the Americas
- Abstract:
- The time is ripe for a historic transformation of Mexico's energy sector. The 2008 Reforma Energética (Energy Reform)—a congressionally-approved presidential initiative that established or modified seven laws—highlighted the significant challenges facing the Mexican oil industry and the economic implications of a decline in oil production. The problem: it didn't resolve them. With the exception of Andrés Manuel López Obrador of the Partido de la Revolución Democrática (Party of the Democratic Revolution—PRD), for the first time in Mexican politics the presidential candidates this year set out a series of bold institutional reforms. These included what was unthinkable years ago: turning the state-owned enterprise, Petróleos Mexicanos (PEMEX), into an autonomous firm that could issue stock shares—a model similar to the one adopted by Brazil's Petrobras in the 1990s.
- Topic:
- Economics and Government
- Political Geography:
- Brazil and Mexico