On August 7, 2014, both houses of the Mexican Congress passed the secondary laws needed to make the long-awaited energy reform in Mexico a reality. The bills have been sent to President Peña Nieto for execution. Private participants, both foreign (through wholly-owned Mexican subsidiaries) and domestic, will soon (most likely by mid-2015) be able to participate in upstream, midstream and downstream activities in Mexico.
As discussed in a prior Energy, Oil & Gas Newsletter ( Mexican Congress Opens the Door for Private Investment in Energy Industry), in December 2013 both houses of the Mexican Congress passed reforms to Articles 25, 27 and 28 of the Mexican Constitution (the "2013 Amendments") ending a 70-plus year PEMEX monopoly over all hydrocarbon activities in Mexico and beginning this historic and market-changing process. The 2013 Amendments required the passage of secondary laws dealing with the energy sector as well as amendments to many other existing laws necessary for implementing the new energy regime.
Read the rest of the article: Oro Negro – Mexico Passes Secondary Legislation
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