(Energy Analytics Institute, Piero Stewart, 20.Aug.2013) – Energy sector analyst from Medley to Harvard Kennedy spoke at an energy forum at IESA in Caracas.
Quote highlights from the forum follow:
- Comments from Luisa Palacios Director for Latin America, Medley Global Adviser regarding Mexico’s energy reform:
“We expect to see positive changes as a result of the reform, but we do not expect the changes to have an immediate impact. We expect to see changes to the first contracts ready by 2015.”
- Comments from Luisa Palacios regarding Colombia:
“Domestic gas prices are on the same level as international markets. Without export capacity for gas, the Colombian government is looking for ways to use more gas domestically to allow for increased oil exports.”
- Comments from Francisco Monaldi, Director for CIEA, Visiting Professor from Harvard Kennedy School regarding PDVSA and Venezuela:
“The Venezuelan government continues to raid cash reserves.”
- Comments from Francisco Monaldi regarding Mexico’s energy reform:
“Mexico’s announcement could cause Venezuela to reform its petroleum sector. The largest bottleneck for PDVSA in the Faja relates to the company’s participation in service industries not related to the petroleum sector, i.e. housing, agriculture.”
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