http://nrgibroker.com/wp-content/uploads/2017/09/2.png 400 600 admin http://nrgibroker.com/wp-content/uploads/2018/02/nrgibroker-300x64.png admin2017-09-12 09:51:062017-09-13 07:50:43Mexico's Energy Reform is Paying Off
“For more than 80 years, the state-owned Petróleos Mexicanos, or PEMEX, hegemony on the energy sector restricted Mexico’s ability to adapt to changing global energy markets.”
“The impacts have been profound. One of the most significant changes saw the country’s oil and gas production decline, which in turn increased the nation’s dependency on imports of gas and oil products. Further exacerbation to its economy came from rising power production costs, aging infrastructure and a widening human resources gap, among other negatives.”
“So, it was with some relief that the government in 2013 announced its energy reform bill. Conceptually, it is an extremely significant and insightful document, because it underscores the government’s commitment to change Mexico’s economy and is touted as the catalyst for continued and sustainable growth and welfare.”
“With it comes a new era of free trade for the nation, with new global partners that view it as a strong and competitive energy hub, and one that also endorses environmentally friendly practices, a sign of Mexico’s intention indicated by it being one of the earliest nations to sign the Paris climate accord.”
“Fast forward to 2017 and Mexico seems to have made good on its promises, having agreed:
Eleven free-trade agreements with 46 countries.
Nine economic cooperation agreements.
Thirty-three Reciprocal Investment Promotion and Protection agreements.”