The Mexican Government has completed the reform of the energy sector, which creates favorable conditions for oil companies.
The main objective of the reform - to attract significant investment from major international oil companies in the short term. Creating favorable conditions for attracting foreign capital in the energy sector was the main task of the President of Mexico, Enrique Peña Nieto, since it is due to oil the Mexican economy can become a leader in Latin America. Mexico's oil industry generates 32% of GDP, but in the last decade, the volume of crude oil declined, while large companies and Mexican banks(http://mxbanks.com) were not interested in investing in the country.
From 2004 to 2013 volume of crude oil fell by 25% last year, average daily production was only 2.9 million barrels - its lowest level in the last 20 years.
Peña Nieto at a glance, the main reason for such negative dynamics in the oil sector in Mexico was the low efficiency of the state of the Mexican company Pemex - monopoly in the oil industry. According to him, the company is mired in corruption and works extremely inefficient. While international oil companies could receive income only for the provision of services at the legislative level, they were not allowed to have a share in deposits and generate income, depending on the volume of oil produced.
Reform of the Mexican government opens the country's oil reserves to private companies and facilitates their conditions for investment in the economy. Peña Nieto expects that such a measure would increase the volume of crude oil to 3.5 million barrels by 2025
However, energy reform of Peña Nieto was the cause of the filament of the political struggle, "left" politics took quite a tough stance against the wishes of the current Mexican Government to abandon the state monopoly in the sector. Democratic Revolution Party (Partido de la Revolución Democrática, PRD), which enjoys broad support and is one of the leading parties in the country, hoping to undo reforms Peña Nieto in a referendum may be held in 2015
Oscar-winning Mexican director Alfonso Cuaron wrote an open letter to President Peña Nieto, which was published in all leading publications in Mexico. He demanded that the president publicly explain how his reform will avoid corruption and that it would give the people of Mexico.
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Juárez, Cuauhtémoc,
Mexico City, DF, México
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