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Mexico: Calderon Calls Argentina's YPF Move "Regrettable".

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Mexican President Felipe Calderon (pictured) has called the Argentinian government's surprise decision to take control of 51% of YPF "very regrettable". Argentinian President Cristina Fernandez de Kirchner seized 51% of the national producer on Monday after continuing disputes over declining oil output and investments. The nationalisation strips Spanish producer Repsol of its place as the company's largest shareholder. 

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Mexico: Presidential Candidate Plans Five Refineries

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Andrés Manuel López Obrador, the left-leaning candidate in Mexico's forthcoming presidential election, has advocated the construction of five refineries under his new energy policies. The sites include a $11bn-plus Tula refinery in Hidalgo state (a project currently being tendered by Pemex) along with another refinery in progress in Guanajuato state. The two facilities are expected to be operational by 2016 and 2015 respectively. 

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Mexico: Pemex Achieves Reserve Replacement Ratio of 100%, Says Calderon

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Mexican President Felipe Calderon (pictured) has announced that Petroleos Mexicanos (Pemex) achieved a reserve replacement ratio of 100% last month. In a message, the President cited the result as one of his administration’s key successes over the past six years, adding that the company’s replacement ration had run at just 22% in the early 2000s. 

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