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
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
FTC Pushes Review of CoStar’s Commercial Real Estate Antitrust Case
Jan 31, 2024 by
CPI
UK’s CMA Investigates Ardonagh’s Atlanta Group and Markerstudy Merger
Jan 31, 2024 by
CPI
Greenberg Traurig Grow Financial Regulatory and Compliance Practice
Jan 31, 2024 by
CPI
Dutch Regulator Fines Uber €10 Million for Privacy Violations
Jan 31, 2024 by
CPI
DOJ Investigates AI Competition, Eyes Microsoft’s OpenAI Deal: Bloomberg
Jan 31, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – The Rule(s) of Reason
Jan 29, 2024 by
CPI
Evolving the Rule of Reason for Legacy Business Conduct
Jan 29, 2024 by
CPI
The Object Identity
Jan 29, 2024 by
CPI
In Praise of Rules-Based Antitrust
Jan 29, 2024 by
CPI
The Future of State AG Antitrust Enforcement and Federal-State Cooperation
Jan 29, 2024 by
CPI