Published On: Mon, Jan 25th, 2016

Low oil prices won’t prevent, limit, or stop energy reform: Peña Nieto

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President Enrique Peña Nieto arrived in Zurich, Switzerland on Thursday January 21st. at 9:15 p.m. local time, aboard the presidential airplane TP-01, from where he later traveled to Davos to attend the World Economic Forum.

The president’s public activities included a meeting with Johann Schneider Ammann, the president of the Swiss Confederation, and  participation in the “A New Agenda for Latin America” plenary session.

During his Davos appearances Peña Nieto told participants that “Low oil prices will not prevent, will not limit, will not stop energy reform; the oil and gas sector, previously dominated by state-owned Pemex, will continue to be opened to domestic and foreign investors”.

In December 2015, 51 companies qualified to bid for 25 onshore fields, “over and beyond the expectations we had,” said Peña Nieto. The bidding process for deepwater assets is on track to start towards the second semester of 2016. “The data room is already open to interested companies,” Peña Nieto added.

Enrique Peña Nieto met with Johann Schneider Ammann in Davos, Switzerland (Photo:

Enrique Peña Nieto met with Johann Schneider Ammann in Davos, Switzerland (Photo:

The structural reform of telecom and financial services will also continue as part of the country’s “armouring” against the volatile global economy, said Peña Nieto. The effort is showing results. The domestic credit to GDP ratio has increased to 32% from 25%. By the time his term as president ends in 2018, Peña Nieto hopes the ratio will be closer to 40%.

When asked whether Mexico will extradite the notorious drug lord “El Chapo” Guzman, who had escaped twice from a high-security prison but was recently recaptured, Peña Nieto replied that Mexico is “working on extradition.” The Mexican Attorney General is speeding up the process so “we can extradite this criminal as soon as possible,” said Peña Nieto. Guzman is wanted in the United States and other countries.

Over 2,500 leaders from business, government, international organizations, civil society, academia, media and the arts participated in the 46th World Economic Forum Annual Meeting in Davos-Klosters, Switzerland, on 20-23 January.



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