Mexican Energy Sector Overhaul: Long-Awaited Energy Reform on the Table - President Peña Nieto Unveils Reform Proposal

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On August 12, 2013, President Peña Nieto submitted to Congress a bill amending articles 27 and 28 of the Federal Constitution, aiming to reform the oil & gas and power sectors in Mexico (the “Bill”). The Bill is being submitted in the context of the “Pact for Mexico,” which is a pact among the three main political parties to create the consensus required to enable Congress to pass necessary structural reforms.

1. Oil, Gas and Petrochemicals -

Restriction on Entering Into Profit Sharing Arrangements With Private Companies

to Be Repealed -

The Bill proposes to eliminate from the Federal Constitution a provision that prohibits the Mexican Government from entering into exploration and production contracts with private companies. The specifics of this new regime will not be fully known until secondary laws are implemented.

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Topics:  Energy, Mexico, New Legislation, Oil & Gas

Published In: Constitutional Law Updates, Energy & Utilities Updates, Finance & Banking Updates, International Trade Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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