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David Alire Garcia

Mexico's rising oil nationalism faces debt-rating crisis

14 May 2019

MEXICO CITY Mexican President Andres Manuel Lopez Obrador took office in December vowing to revive state-owned energy company Pemex and put the brakes on foreign investment to give the public a bigger cut of the country's oil wealth.

Mexico to cut Pemex tax bill, banks to refinance debt to ease woes

13 May 2019

MEXICO CITY The Mexican government on Monday announced measures to ease state oil firm Pemex's debt woes, including $2.5 billion in debt refinancing plus the renewal of credit lines with three banks and a gradual tax cut.

UPDATE 2-Mexico to cut Pemex tax bill, banks to refinance debt to ease woes

13 May 2019

MEXICO CITY, May 13 The Mexican government on Monday announced measures to ease state oil firm Pemex's debt woes, including $2.5 billion in debt refinancing plus the renewal of credit lines with three banks and a gradual tax cut.

Exclusive: Mexico's message to credit agencies - Evaluate Pemex responsibly

11 May 2019

MEXICO CITY Credit ratings agencies must be "responsible and serious" in how they evaluate Mexican state oil company Pemex, Energy Minister Rocio Nahle told Reuters on Friday, strongly defending spending and policy decisions that she says will benefit the firm.

U.N. rights chief says Mexico violence recalls that of Chile dictatorship

10 Apr 2019

MEXICO CITY United Nations human rights chief Michelle Bachelet said on Tuesday the deadly toll of Mexico's rampant gangland violence was reminiscent of the era in her native Chile when thousands died or disappeared during a military dictatorship.

Kansas City Southern sees surging fuel-by-rail growth in Mexico

27 Mar 2019

MEXICO CITY The Mexican subsidiary of U.S. railroad operator Kansas City Southern expects its gasoline transport business to grow at least 15 percent by volume this year, and possibly much more, a senior executive said on Tuesday.

UPDATE 1-Kansas City Southern sees surging fuel-by-rail growth in Mexico

27 Mar 2019

MEXICO CITY, March 26 The Mexican subsidiary of U.S. railroad operator Kansas City Southern expects its gasoline transport business to grow at least 15 percent by volume this year, and possibly much more, a senior executive said on Tuesday.

Kansas City Southern sees surging fuel-by-rail growth in Mexico

27 Mar 2019

MEXICO CITY, March 26 The Mexican subsidiary of U.S. railroad operator Kansas City Southern expects its gasoline transport business to grow at least 15 percent by volume this year, and possibly much more, a senior executive said on Tuesday.

Exclusive: Aztec war sacrifices found in Mexico may point to elusive royal tomb

25 Mar 2019

MEXICO CITY A trove of Aztec sacrifices including a richly adorned jaguar dressed as a warrior and recently discovered in downtown Mexico City could lead archaeologists to the most tantalizing find yet: an Aztec emperor's tomb. | Video

Mexico's Pemex plans to triple oil well drilling this year to boost output

19 Mar 2019

MEXICO CITY Mexico's national oil company Pemex plans to triple the number of wells it will drill this year, the company's chief executive said on Monday, in a bid to grow crude output and reverse more than a decade of declining production.

World News

India's Modi stuns opposition with huge election win

Indian Prime Minister Narendra Modi scored a dramatic election victory on Thursday, putting his Hindu nationalist party on course to increase its majority on a mandate of business-friendly policies and a tough stand on national security.