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PEMEX AND SALE OF SHARES

Antonio Gershenson / The Day

have attracted much attention to the presidential statement in New York about a possible sale of shares of Petróleos Mexicanos. Although we have tried to correct this with other words, there is a part that reinforces this assertion:
"... a legal reform to modernize Pemex in a manner similar to that Petrobras did 10 years ago." 10 years ago ruled the right, and big change was to sell the majority of the shares Petrobras to individuals in the stock exchanges of New York and Sao Paulo. That's what the statement quoted above. Then followed more progressive governments in Brazil and passed laws which, among other things created a new company wholly state, Petrosal. A significant amount of revenue for areas of economic and social usefulness, and gave more strength and decisiveness to Petrobras, which controls the newer areas of high depth, the opposite of what promotes Mexican right, which makes it possible to weaken Pemex and hand over to private companies. But, as shown, it raised selling shares to the public as well have said it openly.
Try not to hide behind the Brazilian government, Lula, as president, repeatedly criticized the partial privatization of Petrobras to the sale of shares.
also gives an example of Norway's Statoil. But only what is good, the private share issue in 2001. However, Statoil was merged with the other state oil company, Hydro, to form a single state oil company in 2007. In addition, we formed a new company wholly state, Petoro, with functions specific oil. But the Mexican technocrats have been divided into small pieces to Pemex and not re-integrate and accept that to be integrated.
is seen that the current government misses what other countries have about 10 years ago, but they are now doing other things. The speech
threatened with a new legal reform to give more to private. multiple service contracts allow restore production soon.
the same day and a new announcement of contracts in mature fields, it becomes the excuse that Pemex does not have the financial ability or staff to explore and exploit areas ... will be tendered to the initiative through integrated contracts .
I no longer have Pemex is because they plucked . But it does. First, the production of the fields mature is ridiculously low. Secondly, they are spending like crazy, for example in Chicontepec-budget of 20 billion pesos for this year, with almost no production. To cancel contracts with its friends abroad, and Pemex will produce more.
For staff, which have not is because they were fired, or retired early. For them, the worst of Pemex engineers and technicians who know their job and performs it, because they mess up their potential deals and contracts. Blatantly, instead of planning and execution of projects, talk about business plan.
If the federal government insists on selling Pemex apart, would have to wait for the next session of the cameras. While you can develop a movement to stop this madness again.
There will be another factor. We saw that the closeness of elections in Mexico State led the PRI to stop initiatives very contrary to the will of the majority. Well, something similar would be happening at the approach the federal election. Since the PAN does not have much to lose, and as to what can hope for is a third, and a minimum number of governors. No longer raise the price of gasoline and other fuels. They do nothing about the new refinery, but rather spent the money. Have lost a local election after another. But the PRI was able to return to complicate matters, as now.
This is the most rightwing government technocrats as Pemex. They do not know what else to deliver. Do not know what else to give contract. Do not know how to deliver more in each contract. Do not know what else to list, and when. Citizens Bond, if we allow Mexicans, shares of Pemex.