| | |  Business News | August 2008 
Update - Mexico Energy Reform Debate
 Adriana Barrera - Reuters
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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.
• Leftist political parties will present their own energy reform proposal on August 25, Excelsior newspaper reported, citing a senior politician in the left-wing Party of the Democratic Revolution, or PRD.
• Hoping to shore up flagging production and reserves in the world's No. 6 oil producer, President Felipe Calderon proposes to let state-owned energy 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.
• The reform proposal expected from leftists would change the way Mexican lawmakers set the budget forecast for oil revenue and would change Pemex's tax obligation, newspaper Diario Monitor reported.
• The leftists' proposal would not bar private sector participation in areas of the oil industry where they are currently allowed, PRD president Guadalupe Acosta said, according to newspaper El Universal. |
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