Changes in Mexico Energy Regulations Could Fuel Boom

Posted August 11, 2014 at 5:00am

The Houston Chronicle reports: “As the dust settles on Mexico’s landmark energy overhaul, private companies from all sectors of the energy industry are eyeing opportunities in what many believe could be the next North American energy boom.”  

“Legislation that passed in a series of votes earlier this week in Mexico’s Congress will open the country’s oil and gas industry and electricity generation to private investment for the first time since 1938. Already, companies are jockeying for position on what, under the right conditions, could be lucrative investments close to American soil.”  

“Under the new laws, Mexico’s state-owned Petróleos Mexicanos, or Pemex, will have the first chance to develop the country’s oil and gas resources but no longer will be the only player in the game. The company has submitted to the government a list of the resources it wants to keep, and Mexican regulators are expected to decide as early as next month what to award the company.”