EnergyPolitics
06 September 2023, 5:46 pm 1 minute
Reuters exclusively reported that President Joe Biden’s administration has asked U.S. energy companies to prepare affidavits documenting how Mexico’s protectionist policies disrupted their investments as Washington prepares to escalate a trade dispute with its neighbor. U.S. energy and power companies, such as ChevronCVX.N and Marathon Petroleum MPC.N, which sought to expand in Mexico, have complained that they have been denied simple permits and applications in decisions that favored state oil company Petroleos Mexicanos (Pemex) and national power utility Comision Federal de Electricidad (CFE).
Market Impact
Mexico overtook Canada and China to become the largest U.S. goods trading partner in the first half of 2023, reaching total trade of $396.6 billion for the period as Mexico’s automotive production grows and other U.S. companies shift supply chains from China closer to home.
Article Tags
Topics of Interest: EnergyPolitics
Type: Reuters Best
Sectors: Commodities & Energy
Regions: Americas
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story
