Important News: Mexico Advances On The Importation Of Gasoline And Diesel
To Our Clients and Friends:
Please be advised that Mexican President, Enrique Peña-Nieto, has announced that oil companies will be able to import fuels starting as soon as April of 2016.
As early as April 1, 2016 any oil company will be able to import gasoline and diesel into Mexico, implying an improvement in terms of pricing, this according to a statement given by President Enrique Peña-Nieto during the inauguration of the international energy conference IHC Cera-week, which is held annually in Houston.
This measure was scheduled for 2017; however, the liberalization process began earlier this year with the release to allow third parties to sell fuel at service stations in Mexico. The entire process is expected to conclude in 2018 with the total liberation of prices.
This is intended to involve and trigger a strong private investment in Mexico, thus enabling strong competition in the fuel sector when prices are fully released in 2018.
We will keep you posted on further developments as they become available.
Ernesto Velarde Danache, Inc.