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Mexican Energy Reform 2014

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Mexican Energy Reform 2014

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Great Opening ! ! ! To Foreign And Private Investment

Reform energetic in Mexico is extremely important due to the opening for the investment of private corporations in the extraction and exploration of oil and gas.

Previously, this activity was restricted only to a single State-owned company, PEMEX (Petroleos Mexicanos), however this reform opens opportunities for private investment of domestic and foreign companies. To carry out this process were amendments to various laws, including the Mexican Constitution.

With these important changes, the main objective is to exploit the abundant deposits of hydrocarbons in deep waters that, up to now, PEMEX (Petróleos Mexicanos) has not yet had access.

The contracts will be public and verifiable by any citizen.

Establishes strong controls and surveillance, forcing perform external audits of each contract It gives strength to the Mexican State to regulate the sector, granting greater autonomy to the National Hydrocarbons Commission and with the participation of Bank of Mexico (Banxico) in the administration of the oil income.

All of the oil and gas will continue to be the nation's and private investment will be allowed in exploration, extraction, refining, petrochemical, transportation and storage.

Therefore, there is a big opportunity for foreign companies to participate in the Mexican Oil and Gas Industry that for many years were not allowed to participate

Right now, it is discussing the congress secondary laws to define the process and specifications for the process, conditions and requirements, as well as the terms of payments mainly involving foreign companies, which will be finished in the next couple months.

Article supplied by Zaldivar Consulting

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