Mexico’s state-owned oil giant PEMEX has said it will continue to sell off several of its property assets in gas service stations, as well as housing provided to workers and employees, which the company sees as a financial burden after extensive restructuring. According to the official Annual Program for Property Asset Divestment, approved by PEMEX’ Board of Directors in March, the service stations and housing properties selected will be put to auction in several cities around the country.
The program plans for the sale of six service stations this year, located in major population centers throughout Mexico. The sale price will be determined by independent auditors, with properties located in Mexico City, Puebla, and the states of Hidalgo and Jalisco.
PEMEX has so far put 43 service stations up for sale since June 2016, out of 56 currently being operated by third parties. The service stations for sale were selected due to their reporting discrepancies in their lease contracts. PEMEX’ asset sale is part of an extensive reform to the oil and energy sector pushed by the current administration and passed in 2013, with the aim of opening the hydrocarbon sector to effective competition after nearly a century of state-run monopoly.
Full Content: El Universal
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
FTC Sues to Block Tempur Sealy’s $4.3 Billion Acquisition of Mattress Firm
Oct 24, 2024 by
CPI
Mexican Watchdog Proposes Fintech Reforms to Boost Financial Inclusion
Oct 24, 2024 by
CPI
AMA and ISMS File Antitrust Lawsuit Against MultiPlan Over Alleged Price-Fixing Scheme
Oct 24, 2024 by
CPI
Biden Administration Announces New AI Strategy to Boost National Security
Oct 24, 2024 by
CPI
Google Agrees to Provide AI-Related Documents in Monopoly Case
Oct 24, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Chevron
Oct 24, 2024 by
CPI
A Quartet of Decisions That Cripple Agencies
Oct 24, 2024 by
Richard J. Pierce
Goodbye, Chevron: Rediscovering the Virtues of an Independent Judiciary
Oct 24, 2024 by
Alexander Volokh
A New Era of Deference: From Chevron to Loper Bright
Oct 24, 2024 by
Daniel E. Walters
Loper Bright and Antitrust: Limited Impact on Enforcement, but a Clear Constraint on FTC Rulemaking
Oct 24, 2024 by
David Kully, Lynn Calkins & Kenneth Racowski