Reigniting Mexico’s Energy Industry

Law360, New York (February 7, 2014, 12:08 PM EST) -- In late December 2013, the Mexican government, under President Peña Nieto, promulgated a decree amending the constitution of the United Mexican States that introduces new opportunities for private investment in the oil, gas and refined products industries that have been under monopolistic control by the state-owned company, Petróleos Mexicanos (“PEMEX”), since 1938.

Among many objectives, including reforms affecting the midstream, downstream and electric power sectors, the decree amends Articles 25, 27 and 28 of the Mexican Constitution, along with 21 transitional provisions, transforming the way in which the Mexican government approaches private investments in the upstream energy industry, while still expressly...

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