Reform Leads to Opportunities, says Mexico’s Energy Secretary

May 2016, Vol. 243, No. 5

Mexican Energy Secretary Pedro Joaquin Coldwell used the launch of a regional oil and gas forum Thursday in the nation’s capital to reiterate his country’s commitment to the reform of its domestic energy market.

Citing measures initiated by President Enrique Peña Nieto and approved by the nation’s legislature, he said, “This reform opened the whole value chain in the hydrocarbons and electricity sectors to national and foreign private investment.” Coldwell was speaking at a dinner to mark the start of the first regional forum organized by the International Association of Oil & Gas Producers (IOGP) and its Mexican national equivalent, AMEHXI.

He went on to note that “it is a positive sign” that Mexico had been chosen to inaugurate the series of IOGP regional forums.

Also speaking at the dinner, which took place at the Hacienda de los Morales, was AMEXHI Chair Dr. Enrique Hidalgo. He hailed Mexico’s new energy model that “shifts the emphasis” toward “a new open market, a market with competition, with certainty and with transparency, with industrial safety and efficiency.”

The previous day the regional forum, where “Future-proofing the oil and gas industry” was the theme, hosted sessions on the challenges of high costs in a low oil price environment, prevention and response preparedness, streamlining specifications and standards and alignment with regulators.

IOGP Chairwoman Monika Hausenblas led a closing session on safeguarding the industry’s social licence to operate.

“Many experts,” she said, “including the International Energy Agency, believe that oil and gas will continue to be a crucial part of the energy mix for the foreseeable future. However, our industry has many vocal critics. And many parts of society are sceptical about our operations. Sometimes, this scepticism results from misinformation and lack of understanding.”

 

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