Mexico’s Federal Electricity Commission (CFE) said in an Oct. 5 report that the country needs to expand and improve its nuclear energy industry. The report also noted that it will be at least 10 years before a new nuclear plant could be operational. Mexico currently has one nuclear power plant, located in Veracruz state, and contributes about 3 percent of CFE’s installed capacity. Mexico’s energy needs grow by about 5 percent annually; to meet current demand CFE plans to install more than 60 traditional power plants. In addition to nuclear energy plans, Mexico is also planning to increase the amount of power it generates from natural gas from a current 45 percent to a planned 60 percent by 2015.
http://uk.reuters.com/article/oilRpt/idUKN0521307720071005
Dominican President Leonel Fernandez issued a decree Oct. 9 designed to protect and generate jobs. In recent years, 60,000 jobs have been lost due to competition (both within Latin America and internationally). The decree will help save and recover jobs lost due to more competitive free trade zones. http://www.dominicantoday.com/app/article.aspx?id=25701
US firm Conduit Capital Partners, a private equity investment firm with interest in Latin America’s electric power industry, announced Oct. 9 that it is selling its stake in a coal power plant in Colombia. Conduit has been involved with the plant, Termotasajero, since 1998 when a Conduit investment fund purchased an 81 percent stake in the facility. Termotasajero is considered a highly efficient thermal power generator for Colombia because it is strategically located and has access to high-quality coal. The 23 year old facility, which complies with all Colombian and World Bank environmental standards, has a sale price of $173 million.
http://home.businesswire.com/portal/site/google/index.jsp?ndmViewId=news_view&newsId=20071009005580&newsLang=en
A transnational natural gas project between Mexico and the US has been approved by the Federal Regulatory Commission, according to an Oct. 5 report. Canadian pipeline company TransCanada Corp. will adjust a US segment of a pipeline to allow natural gas shipments into Arizona and California. The pipeline is currently used to send natural gas to Mexican markets. The modifications to the pipeline will triple its capacity and allow natural gas to flow north into the US and south into Mexico. The modified pipeline, whose construction is expected to begin in early 2008, will span 220 miles. Some California officials are concerned with environmental issues due to the type of natural gas being transported, but Arizona officials are unconcerned.
http://www.iht.com/articles/ap/2007/10/05/business/NA-FIN-US-Imported-Natural-Gas-Mexico.php
Canadian oil firm Nexen said Oct. 5 that it has signed an agreement with Mexican state oil company Petroleos Mexicanos (Pemex). The accord – Mexico’s first with Canada – calls for collaboration between the firms in research, training, and oil and gas exploration and production. Mexico’s constitution forbids foreign involvement in oil production, but Pemex’s dwindling reserves and production ability have the company seeking out partners in the constitutionally-legal of exploration, research and technology. http://www.canada.com/nationalpost/financialpost/story.html?id=4cd6c8c1-debc-4c92-a931-f36adddac9e8&k=18174
The final closing argument of a lawsuit filed by 12 banana workers against US firms Dole Food Company and Dow Chemical for the alleged intentional use of a banned pesticide will begin Oct. 10 in California. The plaintiffs allege that the pesticide DBCP, banned in the US, was used in Central American banana fields even after the companies knew of the dangers of the chemical. The banana workers maintain they were left sterilized after exposure to DBCP. In addition to the current case, the same US court has thousands of claims of sterilization made by foreign banana workers pending. If the current case is ruled against the defendants, there will be a wave of additional lawsuits brought by injured Latin American banana workers. http://newsroom.eworldwire.com/view_release.php?id=17732