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PEMEX to bring competition to cen

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Please use this identifier to cite or link to this item: http://hdl.handle.net/1928/10949

PEMEX to bring competition to cen

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Title: PEMEX to bring competition to cen
Author: NotiCen writers
Subject(s): PEMEX to bring competition to Central America's energy market
PEMEX
Central America
energy market
Fox
Chavez
IV Summit of the Americas
Mar de Plata
Argentina
energy
PPP
hydroelectric project
ECLAC
Istmo centroamericano
Costa Rica
Abel Pacheco
Oscar Berger
Panama
refinery
IMCO
Mexico
Pacto de San Jose
Shell
RECOPE
Petrocaribe
competition
prices
Abstract: Central America stands to become the beneficiary of an oil-fueled imbroglio between Mexico's President Vicente Fox and President Hugo Chavez of Venezuela. Both are seeking, for reasons economic, philosophical, and political, to ease the strain on non-oil-blessed countries. The two presidents represented opposing sides regarding free trade at the IV Summit of the Americas in Mar del Plata, Argentina, but it was Fox who, on Nov. 5, signed an accord worth US$7 billion with the Central Americans to ease their energy woes. "With this we will have abundant energy in the region, competitive and made into a platform for development," said Fox before a meeting with the presidents of Guatemala, Nicaragua, Costa Rica, El Salvador, and the Dominican Republic, and the vice president of Honduras. The deal includes constructing a refinery somewhere in Central America, presumably with the technical resources of Mexico's state oil monopoly PEMEX. It is part of a larger scheme within Plan Puebla-Panama (PPP), integrating the refinery, construction of a hydroelectric project, a gas pipeline, and plants for the conversion of liquefied natural gas (LNG) (see NotiCen, 2005-06-16). Fox's offer was consistent with an October recommendation of the Economic Commission for Latin America and the Caribbean (ECLAC) for the creation of a regional energy market in Central America. The head of ECLAC's energy and natural-resources department, Fernando Cuevas, said at the presentation of a report on the petroleum industry, Istmo centroamericano: diagnostico de la industria petrolera, that the isthmus is in urgent need of competition in energy-products distribution and that PEMEX would "do the region a great service" if it authorized distribution franchises to Central America. "One important measure Mexico could adopt to help Central America would be to allow PEMEX to come in with its service stations," he said.
Date: 2005-11-10
URI: http://hdl.handle.net/1928/10949

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