Energy Reform Update

As discussed in the last post, Pres. Peña (EPN) introduced draft implementing legislation for the Energy Reform at the end of April. Below is a brief update on the legislature’s review of the implementing legislation.

On June 4, the working sessions to review the implementing legislation began meeting, with a scheduled completion date of June 19 (detailed calendar in Spanish here).

On June 8, the Mexican press reported that the Senate was preparing 87 changes to EPN’s draft implementing legislation (Senate document in Spanish here). For example, the Senate’s proposal makes the National Hydrocarbons Commission responsible for approving exploration and development for hydrocarbons extraction; EPN’s draft had given that  power to the Secretary of Energy. At this time, it does not appear that the Senate’s proposed changes materially alter the nature of the energy reform as relates to opening of the market to foreign investors.

As always, readers can find all primary source documents related to the Energy Reform at this page.

 

This entry was posted in energy, legislation, oil and gas, Pact for Mexico, pemex, reform. Bookmark the permalink.

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