Denmon Sigler

Recent production cuts agreed to by the Organization of the Petroleum Exporting Countries and its allies gave markets confidence that Saudi Arabia and Russia are committed to stabilizing oil prices, but the question now is whether U.S. shale oil producers will continue to reduce their own production, says Denmon Sigler and Scott Shelton at Baker McKenzie.

On December 20, 2013, the Mexican Constitution was amended to enact comprehensive energy reform allowing private investment in the oil and gas industry. The reform includes a new Hydrocarbon Law, effective August 12, 2014, that regulates several aspects of the oil and gas industry, including midstream and downstream activities. Although Mexico allowed private investment in some midstream and downstream activities since 1995, the Hydrocarbon Law expands the range of activities in which the… Show more

On December 20, 2013, the Mexican Constitution was amended to enact comprehensive energy reform allowing private investment in the oil and gas industry. The reform includes a new Hydrocarbon Law, effective August 12, 2014, that regulates several aspects of the oil and gas industry, including midstream and downstream activities. Although Mexico allowed private investment in some midstream and downstream activities since 1995, the Hydrocarbon Law expands the range of activities in which the private sector may participate. Show less

On December 20, 2013, the Mexican Constitution was amended to enact comprehensive energy reform, including allowing private investment in the oil and gas sector. On August 12, 2014, a set of regulations intended to implement the constitutional reform came into effect. The regulations consisted of nine new statutes and amendments to 12 existing statutes. The Hydrocarbons Law was one of the new statutes, and it regulates various aspects of the oil and gas sector, including upstream activities.

Following three months of deliberations by the Mexican Congress, and with only limited revisions to the proposed legislation presented by President Enrique Peña Nieto at the end of April, at around mid-day on Monday, August 11, 2014, President Enrique Peña Nieto signed the decree that promulgated the nine new laws and 12 amendments that comprise the secondary legislation of Mexico’s energy reform. This marks the next milestone in Mexico’s historical energy reform.

On April 30, 2014, President Enrique Peña Nieto presented the much anticipated Secondary Energy Legislation to the Mexican Congress to close the ordinary session. The Congress will have to discuss, finalize and approve the Secondary Energy Legislation in a special session or in Congress’ next ordinary session, which begins on September 1, 2014.