A Step Closer To A Renaissance
BMI View : The Lower Houses' approval of secondary legislation that would further open up Mexico's O&G sector brings these bills a step closer to implementation. We maintain our view to see their passage within 2014, thereby affirming a brighter outlook ahead for Mexico's O&G. This will not only benefit foreign upstream players but also provides growth opportunities for oilfield services and midstream firms.
On August 2 2014, the Lower House approved of President Enrique Pena Nieto's secondary legislation to the country's energy sector reform. The bills in this legislation build on the country's landmark decision to open up its energy sector for foreign investment (see 'Landmark Energy Reform To Reverse O&G Sector's Fortunes', December 13 2013) and promise to further improve Mexico's above-ground environment. They will now be passed to the Senate for debate, which could be signed into law by President Pena Nieto if no further amendments are made.
Small Amendments, But Upbeat View Remains
|Better Times Ahead|
|Mexico - Crude Oil & Liquids And Gas Production|