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Weekly Report - 14 August 2014 (WR-14-32)
MEXICO: Peña Nieto promulgates energy reform
President Enrique Peña Nieto celebrated the final approval of the most ambitious reform contained within his cross-party ‘Pact for Mexico’ on 11 August. In a televised ceremony at the official residence Los Pinos, Peña Nieto promulgated the secondary legislation to enact the energy reform which will end the 75-year monopoly of the state oil company Pemex, and allow for greater private participation in the energy sector. Pemex will remain the dominant presence in the sector, however, retaining the vast majority of proven and probable reserves for oil and gas production and exploration in a licensing round two days later.
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