PROFECO Discusses Gasoline Price Cap

Gasoline prices in Mexico returned to the spotlight during President Claudia Sheinbaum’s morning press conference, as the Federal Consumer Protection Agency (PROFECO) presented its weekly update of the program known as Who Is Who in Prices. According to Iván Escalante, a representative of the agency, the national average price for regular gasoline stood at MX$23.59/L (US$1.28/L), with no stations reporting profit margins above MX$2/L under normal market conditions.

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US Bill Seeks to Enforce Mexico’s USMCA Energy Commitments

US House Budget Chairman Jodey Arrington introduced the Mexican Energy Trade Enforcement Act last week, a piece of legislation designed to provide the US President and Trade Representative with congressional backing to hold Mexico accountable for alleged breaches of investment commitments under USMCA.

SENER Issues Clarification on USMCA Dispute

SENER issued a formal statement denying that US oil companies have initiated dispute settlement proceedings under USMCA over Mexico’s energy policies. The clarification followed reports by Diario Reforma suggesting that American oil firms had filed complaints accusing Mexico of breaching investment protection provisions in the treaty.

Venture Global, Mitsui Sign 20-Year LNG Supply Deal

Venture Global and Japan’s Mitsui announced a long-term liquefied natural gas supply agreement under which Mitsui will purchase 1Mt/y of LNG for twenty years beginning in 2029. The companies said the agreement strengthens bilateral energy ties and supports long-term supply security for Japan and global markets.

TotalEnergies Commits US$100 Million to OGDC Climate Fund

TotalEnergies announced a US$100 million commitment to Climate Investment’s (CI) Venture Strategy fund during COP30 in Belém, Brazil. Climate Investment has now formally become a Partner of the Oil and Gas Decarbonization Charter (OGDC) and will support signatory companies with data, technical insights and adoption strategies for decarbonization technologies, according to the company’s statement.