LATEST MEXICO SHALE AND MEXICO ENERGY NEWS:
Mexico Passes Fresh Energy Laws, Advancing Sector Reform - Overhaul Expected to Draw Billions of Dollars of Investment to Develop Complex Reserves
MEXICO CITY—Mexico's lower house of Congress has passed a series of laws to help reorder the energy industry, including a controversial plan for the government to take over billions of dollars in pension liabilities at the state-owned energy companies.
Coahuila state promotes Mexico shale gas investment opportunity
The Governor of Coahuila, Rubén Moreira Valdez, met recently with the Mexican Secretary of the Economy, Ildefonso Guajardo, where they discussed the development of industrial parks for the state of Coahuila in response to the increased employment, GDP of the state in general as well as the upcoming shale gas investment activity. The Secretary of the Economy reiterated his commitment and support to Coahuila in relation to the shale gas opportunity.
Mexico's Round Zero and Round One oil projects
Aug 13 (Reuters) - Mexico's energy ministry announced on Wednesday that the country expects to attract $50.5 billion in new private and foreign investment by 2018 as part of a historic oil sector opening next year that will begin with a first round of contracts.
The Round One tender will offer up 169 separate exploration and extraction blocks and cover a total of 28,500 square kilometers.
Mexico's Energy Sector Reform Worth The 76-Year Wait
Over the last decade, oil and gas supply-side analysts have noted the decline in Mexico’s hydrocarbon output with a fair degree of dismay. Ageing infrastructure, layers of red tape and alleged corruption have seen the country’s output drop from 3.6 million barrels per day (bpd) in 2004 to the current output level of just 2.5 million bpd.
Mexican market analysts’ standard response to the decline was a shrug of the shoulders accompanied by an all too familiar quip, “what do you expect – that’s Mexico.” The capacity to change things by bringing in private sector participation in general, and foreign direct investment in particular, was hamstrung by the concept of state ownership of natural resources enshrined in Mexico’s constitution since 1938.