Latin America

Mexico Congress To Begin Final Push On Energy Reform This Week

Mexican congressional committees will start putting the final touches this week on legislation needed to implement a major overhaul of the country's energy sector, as President Enrique Pena Nieto seeks to put the centerpiece of his economic reform drive in place.

Rigzone
28/05/2014 13:41
Visualizações: 304 (0) (0) (0) (0)

Mexican congressional committees will start putting the final touches this week on legislation needed to implement a major overhaul of the country's energy sector, as President Enrique Pena Nieto seeks to put the centerpiece of his economic reform drive in place.

 

 

Congress passed the basic legislation last year to open up the oil and gas industry and end the 75-year-old stranglehold that state oil company Petroleos Mexicanos (Pemex) has held over the sector. But it must still approve so-called secondary laws to implement those changes.

 

The Senate said select committees would begin preliminary meetings on Thursday on the reform laws, which are aimed at generating billions of dollars worth of private investment in Mexico.

 

Oil majors like BP Plc and Royal Dutch Shell will be closely watching for any surprises in the meetings, in the world's 10th biggest producer of crude.

 

According to a calendar agreed by the Senate, its committees will debate and vote on some of the rules related to hydrocarbons, mining and foreign investment on June 6 and 7.

 

Senate committees will also deal with rules on electricity, water and geothermal energy on June 9, and rules governing regulation on June 16 and 17.

 

Separately, the lower house of Congress will hold special sessions from May 29 to June 19 to debate and vote on the energy reform rules.

 

Lawmakers are then set to call an extraordinary session of Congress to vote on the secondary laws, which the government hopes will be approved by the end of June.

 

Pena Nieto's Institutional Revolutionary Party lacks an outright majority in Congress. It is relying on support from the conservative National Action Party to see through the energy reform.

 

Lazaro Cardenas, who served as president of Mexico from 1934 to 1940, nationalized the country's petroleum reserves and expropriated the equipment of the foreign oil companies in 1938. Cardenas also founded Pemex in a move that would later serve as a model for other countries seeking control over their oil and natural gas resources.

Most Read Today
see see
Results
ANP Releases Consolidated Data on Oil and Gas Production...
03/08/26
SOG 2026
Banco do Nordeste Has R$ 504 Million for the Energy Sect...
03/08/26
PPSA
TotalEnergies and ExxonMobil Win Atapu and Bacalhau Cargoes
31/07/26
SOG 2026
Sebrae Sergipe Strengthens Small Businesses and Expands ...
31/07/26
PPSA
PPSA Expects to Hold the First Auction of the Union’s Na...
30/07/26
SOG 2026
Sergipe Oil & Gas 2026 Begins with a Focus on Investment...
30/07/26
SOG 2026
Petrobras Director Opens Sergipe Oil & Gas with Analysis...
30/07/26
FIRJAN
Agrega + Indústria brings together entities, companies, ...
29/07/26
SOG 2026
ABPIP brings to Sergipe Oil & Gas a debate on strengthen...
28/07/26
Event
BR Aviation presents its portfolio of customized solutio...
23/07/26
Royalties
Royalties: amounts referring to May production distribut...
23/07/26
Fuels
Fuel and lubricants sector registers 1.8% drop in June, ...
22/07/26
IBP
Studies point to redundancy of the export tax and extra ...
22/07/26
PPSA
7th Spot Auction: PPSA markets cargoes from Atapu and Ba...
20/07/26
Results
Union oil production reaches 244 thousand barrels per da...
17/07/26
State of Ceará
Natural gas arrives in Cariri (CE) and strengthens econo...
16/07/26
Terminals
Vast announces contract extension with PETRONAS Brasil u...
15/07/26
International
War, oil and the dollar: how global fluctuations impact ...
13/07/26
ANP
Third-party access to natural gas flow pipelines and pro...
10/07/26
Agreement
ANP and Petrobras sign agreement to bring 335 offshore w...
07/07/26
Logistics
Vast Infraestrutura and Petrobras strengthen partnership...
07/07/26
VEJA MAIS
Newsletter TN

Contact us

We use cookies to ensure you have the best experience on our website. If you continue to use this site, we will assume that you agree with our Privacy Policy, terms of use and cookies.

2