Mexican President replaces energy minister

Jose Antonio Meade will replace Georgina Kessel just five months after being named deputy finance minister.

Mexican President replaces energy minister

Mexican President Felipe Calderon replaced his energy minister on Friday but the decision does not appear to signal a shift in energy policy.

Jose Antonio Meade will replace Georgina Kessel just five months after being named deputy finance minister.

Kessel's departure does not appear to signal, however, a shift in Mexican energy policy as the leadership of state oil monopoly Pemex, which has been given a bigger role in long-term planning than in the past, remains unchanged.

Pemex is slated to hold its first auction of oil field operating contracts later this year under reforms to energy legislation championed by Calderon and the company is also building a new oil refinery which officials have portrayed as a linchpin of government energy policy.

Kessel's tenure was marked by a dramatic decline in Mexico's oil production as output from the giant Cantarell field collapsed as well as the controversial shutdown of the loss-making electricity utility that served Mexico City.

By the end of 2009 Mexican oil production had stabilized at 2.5 million barrels per day, nearly a quarter below its peak. Government officials have said output will remain stable through the end of Calderon's term in 2012.

Reuters
 

Last Mod: 08 Ocak 2011, 12:24
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