Mexico’s President and two opposing political parties have now submitted their long-awaited proposals to reform the country’s energy policies. The President’s proposal calls for constitutional changes that would terminate the monopoly that PEMEX has enjoyed on every sector of the Mexican oil and gas industry since the middle of the 1900s. If the constitutional reforms are passed, the Congress will then be charged with developing a legal framework to permit investment and operations by private enterprise in all sectors of the oil and gas chain. Many questions will still remain as to whether the Mexican Congress can develop laws and regulations that will attract the private capital, technology and technical expertise needed to develop Mexico’s abundant energy resources. If Congress can strike the right balance, it could bring billions of dollars of much-needed foreign investment into Mexico’s energy sector.
Please join us as we examine the competing proposals and discuss the significance of these potential reforms.
For additional information, please contact GFMI@mayerbrown.com.
Mayer Brown’s Global Financial Markets Initiative helps clients deal with the legal and business challenges resulting from the ongoing turbulence in worldwide financial markets. By mobilizing the firm’s global resources from multiple practices and offices, the initiative provides clients with knowledgeable and timely counsel on a broad spectrum of their legal needs.