Competition for Pemex

We’ve heard about the event of this possibility for many years and it seems now it has come to pass; competition for Pemex (Petróleos Mexicanos). It will take some time before the new gas stations reache Puerto Vallarta but at some point in the next five years, we will have more than one choice of brand to fill our tanks.

In 1938, Lázaro Cárdenas, then President of Mexico, expropriated the services of all foreign oil companies. His decree created Pemex, which became the only petrol company in Mexico. This was a major boon to the economy that allowed Mexico to exclusively perform all refining, exploration, and marketing for the country. Since then, Pemex has had no competition. A call for a change in this policy has been in the works for a long time.

We recall driving by a construction site several hundred kilometers north of Puerto Vallarta at least a decade ago, and becoming excited by the prospects of a competitor in the name of BP (British Petroleum). The early stages of that gas station never materialized and it took years for all the ducks to be lined up in a row. Though BP operates 17,200 gasoline outlets in 70 countries, the regulations in Mexico have taken it many years to acquire the necessary permits for importation and operations. There were those who dug in their heels with claims that it would upset the economy, opposed by the faction that asserted the opposite.

Now we can expect that predicted boost in markets again, nearly 80 years later. According to Energy Secretary Pedro Joaquín Coldwell, investments in new pipelines and gas stations in the next few years anticipate a flow of more than $16 billion US dollars to Mexico. BP is the largest producer of oil and gas in the United States, and the campaign in place promises the next five years to supply Mexico with 1,500 new facilities. This calculates an abundance of new jobs in construction and future services, which will also means the accompanying ubiquitous convenience stores.

With expectations of the Energy Regulatory Commission, the price of gasoline in Puerto Vallarta will hopefully stabilize with the expected quantity of gas stations doubling in the country. Lowering gas prices also makes travel more affordable so we’re looking forward to exploring around and beyond Puerto Vallarta in the coming years.

Que es cómo es.

Thanks to our guest blogger Adam Garcia (opinions expressed are his own)

Here are a few of our guiding principals at Boardwalk Realty:

“First of all, we really want to get to know you,”   When we know you, we can tailor home tours to your tastes.”

Secondly, there’s the legal side of owning in Mexico. “Besides our own experience, we can save you a lot of time and money by offering you complimentary consultations with our partner attorneys.  The nuances of how you buy here can save you a lot of money when you sell. It’s important to know what you’re doing on the purchase so that when you sell you can best use any tax advantages. This service is free to our clients and can be invaluable.”

Both partners agree that the most important element of Boardwalk Realty is our ongoing service and commitment to our clients after the sale.  We are both passionate about protecting the investment and security of our clients.  “Our clients become our friends, we see them socially, and we treat them as we would like to be treated ourselves”, adds Mike.

Boardwalk Realty Puerto Vallarta represents buyers and sellers of real estate in the entire Bay of Banderas area, and will soon add a rental and property management division.