Update: Last Obstacle Cleared for Mexican Energy Reform

more+
less-
Explore:  Energy Mexico

Minimum number of required state legislatures approves the much-anticipated reform; subsequent litigation imminent.

Despite opposition from Mexico’s leftist parties, 17 of the 31 state legislatures—the minimum number required under the Mexican Constitution to clear the last hurdle of the constitutional reform process—have approved the proposed constitutional reform of the energy sector (the Energy Reform) as of December 16.

As detailed in our August 15, 2013 and December 11, 2013 LawFlashes,[1] the Energy Reform represents a major overhaul of a 75-year-old regime that had, in the opinion of most experts, become obsolete and prevented Mexico from developing its full potential in the energy industry.

During a press conference, President Enrique Peña Nieto vowed to immediately sanction and publish the Energy Reform upon receiving the validation decree from the permanent commission of the Mexican Congress, which is expected to happen within a few days. Further, the president assured that subsequent legislation addressing the details of the Energy Reform would be enacted “during the first months of the following year.”


[1]. View our August 15, 2013 LawFlash, “Mexican Government to Consider Overhaul of Energy Sector,” available here, and our December 11, 2013 LawFlash, “Reform Opens Door to Private Investment in Mexico’s Energy Sector,” available at here.

 

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.

© Morgan Lewis | 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...
×
×