Mexico president sets out 10 measures to expedite energy reform

Wednesday, August 13, 2014

Mexican President Enrique Peña Nieto announced 10 measures aimed at accelerating the country's energy reforms, which were signed into law on Monday, according to a Pemex press release.

The 10 proposals seek to accelerate round zero, which will reveal how the country's oil and gas acreage will be divided, laying out which areas will be retained by Pemex and what will be made available to international players.

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Round zero had originally been scheduled for September.

Work on the so-called round one, when the first tenders are set to be launched, will also be pushed forward. The round had been initially scheduled for 2Q15. No new date was given.

The decrees creating the national energy control center (Cenace) and the national gas control center (Cenegas) will be signed in August.

The government will also present a list of candidates to head the national hydrocarbons commission (CNH) and the energy regulatory commission (CRE) to the senate, as well as the names of nominees to form part of the newly created national oil fund's technical committee. In addition, it will submit a list of nominees for the board of directors of Pemex and state utility CFE.

The national oil fund – a sovereign wealth set up to manage oil and gas production revenue – will be created in September. A strategy human resources training program in the hydrocarbons industry will be also presented.

All regulations applicable to the secondary legislation will be published by October at the latest. A decree to restructure and modernize the Mexican petroleum institute (IMP), along with a series of obligations that companies acquire green energy certificates, will also be submitted that month.

In addition, the regulations governing the national hydrocarbon sector industrial safety and environmental protection agency will be published in the coming days.