Mexico’s senate approves key parts of energy bill

Government Palace, Guadalajara (Mexico)
Source: DollarPhotoClub

Mexico’s senate committee gave approval to key parts of the energy bill last week, in an attempt to stimulate economic growth in the country by making energy security its priority. Senators voted 90-28 in favour of the energy sector legislation.

Since Mexico announced that it was opening up its energy assets market to foreign investors, Mexico has become a major destination for investment. These reforms have drawn attention on a global scale. Countries who have recently expressed interest in investing include one of Japan’s biggest energy investors, Mitsui, who have made a public announcement regarding their interest in Mexico’s oil and natural gas asset.

SapuraKencana, Malaysia’s biggest oil and gas services company, has also expressed interest in investment in the Americas as it looks to regions experiencing growth. These international companies are viewed as necessary partners in order for Mexico to diversify its foreign investment appeal.

The Mexican government also plan to increase the energy security of the nation in order to generate economic development. The government believes that greater private sector investment in power generation in Mexico will ultimately lead to more diverse generation sources and new opportunities. This international investment will overturn a decade-long decline in oil production as the reform brings focus on new sources and alternatives of energy such as shale oil and gas.

The Mexico Oil and Gas Summit co-hosted with the Mexico Power Summit and the Mexico Energy Industry Awards on October 20th-21st, 2014, Mexico City, is the most definitive energy event in the region discussing the latest opportunities in Mexico since the enforced legislation. The high profile event features a range of renowned speakers from within these industries, including: Miguel Alonso Rubio, Director General of Acciona Energía; Guillermo Zúñiga Martinez, Commissioner, and Sergio Alejandro Peraza García, Director General of Electricity and Renewable Energy of the Energy Regulatory Commission; and Gaspar Franco Hernández, Director General Of Exploitation of the National Hydrocarbons Commission (CNH) amongst many others.

The event will also host The Mexico Energy Industry Awards alongside the two summits and will overall be a key event catering to the opportunities in Mexico since the introduction of the reforms.

The Mexico Oil and Gas Summit is sponsored by Oliver Kinross

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