A new study shows that Mexico City to Cancun is the busiest air route in North America. Almost 3.7 million passengers traveled the 1,294 km journey between Mexico City Juarez and Cancun in the twelve-month period between November 1, 2016 and October 31, 2017, putting it at the top of the study’s rankings. The average cost of a ticket was US$72.
The left leaning front-runner for Mexico’s 2018 presidential election proposed a moderate U.S.-trained economist for finance minister, unveiling a planned cabinet made up of men and women in equal measure.
Mexican national oil company Pemex blamed the cancellation of a potentially lucrative deepwater Gulf of Mexico project on weak investor appetite due to competition from recent auctions in Brazil and low oil prices. Mexico’s oil regulator canceled a tender to pick an equity partner for Pemex’s Nobilis-Maximino project, as company interest was not as robust as expected.
With less than seven months left for Mexico’s presidential election, the leading candidate caused controversy when he announced a willingness to forgive cartel leaders’ crimes to restore peace throughout the nation.
Finance minister Jose Antonio Meade threw his hat in the ring to become the presidential candidate of Mexico’s ruling party in the July 2018 election, hours after resigning his post as finance minister.
Mexico’s president, Enrique Peña Nieto, signed a decree creating a massive marine reserve, spanning 57,000 square miles around the four Revillagigedo Islands—a volcanic archipelago 240 miles southwest of the Baja Peninsula. The reserve is the largest marine protected area yet created in North America.
United Kingdom Foreign Secretary Boris Johnson, announced during the visit of the Mexican Minister of Foreign Affairs, Luis Videgaray, that the UK is developing plans for new bilateral Prosperity programming of up to £60 million to support Mexico’s economic development and reform.
Mexico’s national oil company Pemex has made its biggest onshore oil discovery in 15 years with a find in the eastern state of Veracruz, President Enrique Peña Nieto announced. Pemex made the discovery by drilling its onshore Ixachi well, near the municipality of Cosamaloapan and the overall field is believed to hold some 350 million barrels of proven, probable and possible reserves.
Mexican President Enrique Peña Nieto faces a tough choice on whether to pursue a graft probe involving a prominent ally and Brazilian construction firm Odebrecht.
The top U.S. negotiator at talks to modernize the NAFTA trade pact dismissed questions about why his team had so far failed to produce specific proposals on key issues, saying “I don’t see a problem.” Officials from the United States, Mexico and Canada are in Ottawa for the third of seven planned rounds of talks.