Jenaro Villamil: Transnational Mercenaries Behind Energy Reforms in Mexico Jenaro Villamil - Proceso
go to original August 27, 2013

Reminiscent of the privatization plan developed by former Secretary of Finance, Pedro Aspe, during the government of Carlos Salinas, former chief executives of state-owned energy firm Pemex, Luis Ramírez Corzo and ex-Secretary of Energy, Jesus Reyes Heroles were named as ‘key players’ and ‘new financial actors’ in the opening up of the energy sector in Mexico to foreign investment in U.S documents in September 2012.

On the September 13 and 14 financial forecasting expert Alex Murphy presented the document “Strategic FP&A in the Oil & Gas Industry…The Mexico Case” to large oil investors in Boston. His optimistic forecast predicted high revenues and profits for Mexican petroleum companies following an investigation carried out by Pemex in June of that year.

The investigation puts Pemex as number 14 a the list of companies with the highest income revenues in the world with more than 100 billion dollars to its name and at number 13 for its oil reserves. In addition, the report puts Pemex’s annual earning index at 77 billion dollars, discrediting the catastrophic situation described in a presentation by current Energy Secretary Pedro Joaquín Coldwell during the introduction of the energy reform initiative.

Read the rest at Upside Down World

Translation by Martha Sneyd

We invite you to add your charity or supporting organizations' news stories and coming events to PVAngels so we can share them with the world. Do it now!