Mexico’s government is expected on Wednesday to present long-awaited legislation to flesh out an energy reform that is the central pillar of President Enrique Pena Nieto’s plan to ramp up growth in Latin America’s No. 2 economy. Passed in December, the energy overhaul ends the state’s 75-year-old oil and gas monopoly and aims to generate billions of dollars worth of private investment in Mexico, the world’s 10th biggest producer of crude oil.
The so-called secondary laws are needed to set regulations and other rules for the implementation of the reform, and the government had hoped to present them weeks ago. However, disputes with an increasingly divided opposition delayed the process.
The government is keen to present the laws before the current session of Congress ends on Wednesday and lawmakers in the ruling Institutional Revolutionary Party (PRI) had said they would be presented late on Tuesday or on Wednesday.