Mexico's Lower House Approves Bill to Reform Oil and Gas Sector

Holland & Knight LLP
Contact

Holland & Knight LLP

After approval from the Mexican Energy Commission of the Chamber of Representatives (Cámara de Diputados), the country's lower house of congress approved on April 14, 2021, the bill to reform the Hydrocarbons Law (Ley de Hidrocarburos) in a vote of 271 for and 134 against. The bill, which Mexico's president presented on March 26, 2021, could favor state-owned oil company, Petróleos Mexicanos (Pemex), and expand government control over fuel distribution, imports and marketing.

The Federal Competition Commission (Comisión Federal de Competencia Económica) recommended that Congress not approve the measure because of its potential anticompetitive effects in the oil and gas sector.

The Senate, which is controlled by the ruling Morena party, will now take up the bill. If approved, the president is expected to enact it in Mexico's Official Federal Gazette (Diario Oficial de la Federación).

 

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.

© Holland & Knight LLP | Attorney Advertising

Written by:

Holland & Knight LLP
Contact
more
less

Holland & Knight LLP on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide
- hide

This website uses cookies to improve user experience, track anonymous site usage, store authorization tokens and permit sharing on social media networks. By continuing to browse this website you accept the use of cookies. Click here to read more about how we use cookies.