Landmark Mexico Oil Reforms Pose No Simple Task

Law360, New York (December 13, 2013, 8:14 PM EST) -- Groundbreaking reforms Mexican lawmakers approved Thursday opening the country's nationalized oil industry to private participation have sent a jolt of excitement through the energy industry, but experts say hard work remains in creating the mandated regulatory regime and potential agreements between the government and foreign oil companies.

The reforms, which involve amending the Mexican Constitution, go even further than the ones proposed by Mexican President Enrique Pena Nieto earlier this year. They would allow for profit-sharing, production-sharing and licensing agreements between private firms and state-owned Petroleos...
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