New Pemex tax regime

President Claudia Sheinbaum announces new tax regime for Pemex called Derecho Petrolero para el Bienestar (Oil Right for Wellbeing).
The new Derecho Petrolero para el Bienestar will be 30 percent and for non-associated gas 11.63 percent.

  • A Republican Austerity Plan will be implemented to achieve savings of 50 billion pesos.
  • The priority is domestic consumption and the price of energy will not increase in real terms over the next six years.
  • Mexican Petroleum (PEMEX) will be strengthened as a strategic state-owned company.

Source: Presidency of the Republic

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Pemex presents strategic lines for the period 2024-2030

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THE NATIONAL STRATEGY FOR THE ELECTRICAL SECTOR WAS PRESENTED

During Mexico’s morning press conference, President Claudia Sheinbaum Pardo presented the “National Strategy for the Electric Sector,” based on four guiding principles aimed at strengthening national electric sector planning, promoting energy justice, ensuring a robust, reliable, and secure electrical system, and establishing clear rules to increase private investment.

Source: Federal Electricity Commission (CFE)

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President Claudia Sheinbaum meets with Larry Fink, founder of BlackRock

They discussed the strength of the Mexican economy and the importance of the trade agreement between Mexico, the United States and Canada (USMCA).

Source: Presidency of the Republic

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Installation of the Infrastructure Commission of the Chamber of Deputies.

Installation of the Infrastructure Commission of the Chamber of Deputies.

SICT assures coordinated work with legislators on priority infrastructure projects.
– The head of the SICT attended the installation of the Infrastructure Commission of the Chamber of Deputies.
– “We will keep communication channels permanently open,” he told legislators.
– He enunciated some projects of what is sought to be carried out during this six-year term.

Source: SICT

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Decree: CFE and Pemex return to being public companies of the State

President Claudia Sheinbaum signs decree that returns CFE and Pemex to the people of Mexico as public companies of the State.

This reform is a strategic axis for national development, she pointed out.

The Constitutional President of the United Mexican States, Claudia Sheinbaum Pardo signed the decree through which the Federal Electricity Commission (CFE) and Petróleos Mexicanos (Pemex) return to be companies of the people of Mexico, this after the recent approval of the energy reform by the Chamber of Deputies, the Senate and the majority of local congresses.

Source: Presidency of the Republic

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Progress in road infrastructure projects

Significant progress in road and transport infrastructure works:

  • Hidalgo: Pachuca-Huejutla highway, Cerro Colorado-Zacualtipán section
  • Hidalgo: Real Del Monte-Huasca junction section
  • Chiapas: Rizo de Oro bridge
  • Chiapas: Tuxtla Gutiérrez-San Cristóbal de las Casas highway
  • Quintana Roo: Nichupté vehicular bridge
  • Durango/Sinaloa: San Ignacio-Tayoltita highway
  • Oaxaca: Mitla-Tehuantepec highway
  • Jalisco: Tepic-Puerto Vallarta highway, Las Varas-Puerto Vallarta section
  • Nayarit: Tepic-Puerto Vallarta highway, Tepic-Compostela section
  • CDMX: Santiago Acahualtepec-Santa Martha trolleybus

Source: Presidency of the Republic

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Over USD 20 billion of initial investment from U.S. companies in Mexico by 2025

President of the U.S. Chamber of Commerce, Suzanne Clark, and CEO of Mexico Pacific, Sarah Bairstow, acknowledged the Mexican Government for facilitating investments that promote development and well-being.

It was announced that the leading investments set to arrive in Mexico in 2025 include Mexico Pacific, with USD 15 billion; Royal Caribbean Group, USD 1.5 billion; Amazon, USD 6 billion; and Woodside Energy, with USD 10.4 billion for the development of a fossil fuel storage facility in collaboration with Petróleos Mexicanos (Pemex).

Source: Presidency of the Republic

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“Kickoff for preliminary work on the Mexico-Querétaro train.”

President Claudia Sheinbaum leads the kickoff for preliminary work on the Mexico-Querétaro train

  • It is projected to be ready in three years.
  • It includes 77 bridges, 12 tunnels, three viaducts, two bypasses, and two railway distributors, according to the commander of the “Felipe Ángeles” Engineering Group of Sedena.
  • It will cover 225 kilometers to benefit 6 million people in 22 boroughs and municipalities of Mexico City, the State of Mexico, Hidalgo, and Querétaro; it will create 490,000 jobs.

Source: Presidency of the Republic

Press Release from the Presidency

Press Release from the Secretary of Infrastructure, Communications, and Transport

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Mexico – Pachuca Train: Start of Preliminary Works

As part of President Claudia Sheinbaum’s commitments to have a connected Republic, preliminary works for the Mexico – Pachuca Train Project, AIFA – Pachuca segment, have begun.

  • AIFA – Pachuca Segment: 64 km
  • 21,000 jobs
  • Over MXN 44 billion in estimated investment
  • 1.2 million beneficiaries
  • Electrified double track

Source: Presidency

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Historic Bond Issuance of 1.49 Billion dollars

The federal government reinforces confidence of local and foreign investors in the national energy sector

 

  • The $1.49 billion dollars issuance in the international market represents the largest project bond ever issued by any entity within the Mexican electricity sector and one of the largest in Latin America.
  • The offering recorded global demand exceeding four times the amount issued, with significant participation from over 200 international investors.

Source: Ministry of Finance and Public Credit

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