7/21/15 Texas Lawyer
The opening process of Mexico’s energy sector has been well documented. Local and foreign media have extensively reported on how a country that had been closed to private oil and gas investment for close to 76 years, has, in the span of only 18 months, reformed its Constitution, passed implementing regulations, created and strengthened new and existing regulatory bodies, conducted a Round Zero process with its state-owned oil company (Pemex), begun three public bid processes and awarded the first two production sharing agreements in its history.
However, this fast-moving train (in many ways politically fueled) is now facing its most serious challenge to date: attracting oil and gas companies to invest in Mexico. Recent developments in the opening process have shown once again that the oil and gas industry continues to run deep in Mexico’s political, social and economic life and that the country cannot afford a long and prolonged learning curve.