New era for energy SOEs

By 0 No tags Permalink 0

Energy markets worldwide are undergoing constant regulatory revision driven by changes in technology: the growing presence of renewables and IT advances in network management. The old world of vertically integrated utilities with geographically fixed markets is rapidly vanishing. Deregulation in developing countries is also morphing into something new, and the old private-public dichotomy is being replaced by a marketplace where scaled-down state-owned enterprises (SOEs) compete side-by-side with private entrepreneurs. The presence of SOEs is important to the shape energy markets can take in developing countries and the long-term success of new investment and technologies. Insider's advantage The first thing that comes to ...

Venezuela’s oil under new management?

By 0 No tags Permalink 0

Five days ago, the government of Venezuela designated the members of the board of directors of CAMIMPEG. On June 2, the Ministry of Defense made the announcement via the Gazeta Oficial, where all official government actions are recorded daily. What is CAMIMPEG, you may ask? CAMIMPEG stands for C.A. Militar de Industrias Mineral, Petrolíferas y de Gas and is a new state-military company dedicated to any and all activities related to the extraction and production oil, gas and minerals in Venezuela. CAMIMPEG was created via the same official channel in February of this year. Like all news coming out of Venezuela it has generated speculation and interpretations of ...

Mexico’s the energy reform: new roles for oil producing states

By 0 No tags Permalink 0

Despite being a federal country, energy policy is highly centralized in Mexico, as is the collection and disbursement of oil revenues. Before the energy reform of 2013, Pemex was responsible for all hydrocarbon related investment and production decisions, while the federal treasury, which in Mexico is the Secretaría de Hacienda y Crédito Público (SHCP), managed the collection and distribution of revenues. While fiscal centralization continues under the new regulation, and federal entities like Pemex,  SHCP, and the energy regulatory agencies, SENER and CNH, continue to control energy policy, state and local governments will play increasingly important roles in the oil & gas business ...