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Mexico: Government to allow fuel imports starting April

 |  February 23, 2016

Mexican president Enrique Peña Nieto has announced that the liberalization process currently being undertaken by the country’s oil and energy industry will be pushed ahead of schedule, allowing private companies to begin importing fuel from abroad starting this April, several months ahead of initial plans.

“Beginning on the 1st of April 2016, any company will be allowed to import gasoline and diesel, which should translate into better prices” said Mr. Peña during his speech at the inauguration of the IHS Ceraweek International Energy Conference, held in Houston.

“This opening up of imports to third parties is a decisive action, which will bring about strong private investment and wallow for intense competition to exist in the fuel sector once prices are completely freed in 2018” said the president.

Referring to a drop in oil prices that has affected Mexico’s vaunted oil-sector reform, – West Texas oil closed this Monday at $31.48 a barrel – Peña Nieto warned that Pemex will now have to face “intelligent financial decisions” in order to reduce its expenses and “achieve greater growth.”

Full Content: Univisión

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