MNI BRIEF: China Visitor Mobile Payments Surge in H1

MNI China Daily Summary: Friday, July 26

MNI BRIEF: Foreign Firms Content In China

MNI BRIEF: Turkish Inflation Expectations Steady- TEBA

MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: BAKER HUGHES US RIG COUNT 589; OIL RIGS 482; GAS RIGS 101

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL JUL INDEX 66.4

EZ/UK Bond Supply Calendar: BoE Short APF Operation on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Goldman Sachs on Energy Reform Bill/Politics

MEXICO
  • The controversial government sponsored constitutional energy reform bill failed to get the required two-thirds of the vote in the Lower House for approval.
  • In all, the general perception is that the bill would likely have led to lower investment in the sector, more expensive electricity tariffs, less reliable power supply conditions, undermined the independence and autonomy of the industry regulators, and by embracing fossil fuels it would have been a step backwards towards the renewables/green energy transition. Furthermore, approval of the bill would likely have hurt overall investor sentiment.
  • However, Goldman Sachs caution that the AMLO administration still harbors deep-rooted nationalist inward-looking views for the oil & gas and mining sectors and the operating environment for private sector investors and operators in these sectors is likely to remain challenging.
  • The vote was perhaps the biggest political defeat for President AMLO since he took office and is likely to galvanize the opposition to stay together for the near-term local elections, and potentially also for the presidential election in 2024.
  • The unity shown by the opposition parties implies that it will be difficult for the Lopez Obrador administration to approve constitutional reforms, including the sought electoral reform.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.