The initial phase of the energy reform’s legal and institutional framework has been concluded. During this process, the Federal Executive Council, Congress, political parties and the media, as well as academic, social and business sectors, have had a dialogue on how to transform the industry in order to allow technical, financial and human...
With more than 6% of Mexico’s GDP coming from oil and gas, and 1.8% from the utilities sector, energy is one of the most important components of the economy. Historically, the country has been largely dependent on its oil exports, which have made up a large part of the public budget for several decades. Nonetheless, the decline in production...
Since the release of the energy reform in December 2013, the Mexican energy sector has been on the rise. Little by little the rules have been set to turn a closed sector with two state-owned giants – Petróleos Mexicanos (Pemex) and the Federal Electricity Commission (Comisión Federal de Electricidad, CFE) – into a modern-day open market.
Bolstered by its substantial natural resources, Mexico’s gas production and exports are expected to rise in the longer term as a result of new investment triggered by the government’s energy liberalisation policies, and a general recovery of hydrocarbons prices from their low point in 2015.
At first glance, the story of Mexican shale oil and gas sounds frustrating. Like its northern neighbours Canada and the US, Mexico has some of the world’s largest shale deposits. The government’s deep energy reforms of 2013-14 created an environment attractive to international oil companies (IOCs) willing to invest the tens of billions of...
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