Infraestructura Energetica Nova SAB, the Mexican unit of Sempra Energy, has doubled since the company went public last year. Credit Suisse says the stock remains cheap with the company poised to supply pipelines as the country’s energy industry opens to foreign investment.
It looked like the start to another fine year for one of Mexico’s most powerful bankers. Citigroup Inc. Co-President Manuel Medina-Mora held court last month at a Mexico City breakfast where colleagues talked shop over mango, melon and banana. He sat at the right arm of the nation’s president at another February meeting when Enrique Pena Nieto toasted the bank’s drive, charity and influence.
Petroleos Mexicanos, the fifth- largest crude producer, is seeking to retain all of Mexico’s 14 billion barrels of proven oil reserves as the country opens to foreign investment for the first time since 1938.
Emerging markets haven’t decoupled from developed nations and must take steps to protect their economies from the effects of potential capital withdrawal, according to Mexican central bank Governor Agustin Carstens.
Smaller companies will probably dominate development of Mexico’s shale gas deposits as Petroleos Mexicanos focuses on shallow water and onshore projects, according to the independent director of one of the state-owned company’s units.
Mexico’s top prosecutor’s office said it is questioning Oceanografia SA Chief Executive Officer Amado Yanez after Citigroup Inc. accused his company of fabricating accounts receivables to obtain loans.