México Projects Part II: Off to the Races!

On December 12, 2013, Mexico’s Federal Congress passed historic Constitutional reforms opening both the oil and gas and electricity sectors to private investment. Within 96 hours, the required 16 state legislatures affirmatively supported the amendment. The decree was published December 20, 2013 and became effective on December 21, 2013. As a follow-on to our client alert “México Projects: Get Ready, Get Set . . .,” this alert summarizes the key changes in the decree.

The energy reform is an historic accomplishment of the Mexican government. Following a 75-year monopoly by Petróleos Mexicanos (PEMEX) in the oil and gas sector, and the effective monopoly of Comisión Federal de Electricidad (CFE) in the electricity sector, the reforms terminate such constitutionally mandated arrangements in favor of open, transparent and competitive (and regulated) markets.

Please see full memo below for more information.

LOADING PDF: If there are any problems, click here to download the file.

Written by:

Published In:

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.

© Shearman & Sterling LLP | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »

All the intelligence you need, in one easy email:

Great! Your first step to building an email digest of JD Supra authors and topics. Log in with LinkedIn so we can start sending your digest...

Sign up for your custom alerts now, using LinkedIn ›

* With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name.
×
Loading...
×