Andres Lopez Obrador says the 2013 reforms have caused ‘serious harm’ to the energy sector
Mexico compromises energy reforms
Investor uncertainty mounts as approved legislation threatens to return energy sector to state control
Mexico’s senate has approved a provocative new hydrocarbons bill aimed at tackling fuel theft and corruption. But critics argue the proposal undermines the 2013 energy reforms and will restore state oil company Pemex’s downstream domination. Approved by 65 votes to 47, the bill grants the energy ministry (Sener) and the state regulator (CRE) enhanced authority to suspend—either temporarily or permanently—operating permits for reasons of national security, energy security or threats to the economy. “Investors are seriously considering no longer investing in the hydrocarbons sector in Mexico” Rodriguez-Cortina, King & Spalding The new bill gives Mexican authorities unfettered a
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The December/January issue of Petroleum Economist is out now!
