On August 12, 2013, Mexican President Enrique Peña Nieto delivered a highly anticipated constitutional energy reform proposal to the Mexican Senate, which, if passed, will constitute the most significant overhaul of the Mexican energy sector since 1938. Peña Nieto is proposing broad constitutional changes that would open the Mexican petroleum industry to private participation and investment, including by international oil companies, to explore for, and produce, oil and gas. The proposed constitutional changes would also open the midstream and downstream petroleum sectors and the electric power generation sector to private participation and investment. The proposal is expected to be considered by the Mexican Congress in September.
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