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Agreement published that makes it difficult to import hydrocarbons

Diana Ghent
Reform Agency

Sunday, December 27, 2020 | 06:00

Mexico City- The Ministry of Economy (SE) published today in the Official Gazette of the Federation (DOF) the agreement that limits the importation of hydrocarbons to private companies despite comments on the impact on the market.

The draft of the Ministry of Economy and the Ministry of Energy (Sener) was put up for consultation on December 1 on the page of the National Commission for Regulatory Improvement (Conamer), where it received more than 50 comments from individuals and agencies in which were mentioned various nonconformities on the regulatory change.

Among the main changes is the change in criteria for granting import and export permits for hydrocarbons such as crude oil, fuels such as gasoline and petroleum products, as well as the reduction of their validity from 20 to five years.

During the time of receipt of comments from interested parties, the Federal Economic Competition Commission (Cofece) ruled and recommended not to issue the agreement, considering that it damages competition and free competition in the commercialization of petroleum products, in addition to affecting the possibility of Consumers access more supply options and better prices.

“Given that Pemex only faces competition in the commercialization of gasoline through imports, it is necessary that the regulation does not make it difficult to obtain permits, and that the Sener guarantee their expeditious and non-discriminatory granting,” said Cofece.

In addition, Conamer itself asked the Sener and the Economy to carry out a new declaration of regulatory impact (MIR) because the one that was initially delivered did not consider the real impacts on foreign trade and economic competition.

Even, Coparmex published a comment in which it prepared an exercise on the possible economic impact of the regulation, which would amount to at least 5 thousand 590 million 987 thousand pesos, this because financing costs would increase due to legal uncertainty 0.5 to 2 percentage points (it could even be higher) and this would make it difficult to obtain financing and consolidate new investments.

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