Mexican President puts forward energy reform plan

Mexican President Calderon submitted an energy reform plan to the Senate on the 8th. He plans to give Mexico's national oil companies more autonomy and cooperate with foreign companies and private companies to reverse the current decline in crude oil production in Mexico.

Calderon said in a televised speech on the same day that the energy reform program will allow the Mexican national oil company to obtain much-needed technology and funds to accelerate the pace of its oil extraction in the Gulf of Mexico deep water area, while also accelerating the construction of oil refineries. However, he also stressed that the Mexican government has no intention of privatizing the oil industry.

Calderon also proposed that the Mexican national oil company will also issue "citizen bond" financing, which every Mexican citizen can purchase to increase the company's discretionary source of funding.

The Gulf of Mexico is one of the regions with the most abundant petroleum reserves in the world and the most active offshore oil and gas exploration and exploitation. Since the nationalization of the oil industry in 1938, the Mexican Constitution expressly prohibited the transfer of oil and gas exploitation rights to private companies or foreign companies. However, in the face of declining crude oil production, weak technology for developing deep-water oil fields and insufficient refining capacity, the Mexican government announced on March 30 that it will cooperate with foreign companies and private companies to obtain cutting-edge technologies and sophisticated equipment for mining including deepwater oil fields. New oilfields inside and new oil refineries.