Wednesday, October 19, 2011

Peña Nieto opens up for PEMEX privatization

Some quite remarkable comments made by Enrique Peña Nieto to The Financial Times on the national oil company in Mexico, PEMEX. According to the likely PRI presidential candidate, PEMEX
"can achieve more, grow more and do more through alliances with the private sector... Different mechanisms could be explored to ensure an involvement for the private sector in its alliance with Pemex... Brazil is one example...I believe that it is possible to find mechanisms that guarantee, on one hand, the state’s ownership of the oil in Mexico but on the other, mechanisms to achieve and encourage a greater involvement of the private sector... we have to take much more audacious steps.”
I can't say that I disagree with the general gist of his comments: Even the national Cuban oil company has less restrictions on private involvement than PEMEX, and Petrobras is an example to follow.

Yet this is something that is extremely controversial even within PRI, and it is interesting that he has come out that relatively clearly on the issue of PEMEX.

Also, of course, one can soon expect an answer from AMLO along the "I told you so" lines.

Direct FT link here.

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