Mexico signs landmark energy law
MEXICO CITY — President Enrique Pena Nieto on Monday signed into law Mexico's landmark energy reform legislation and announced that his government could name as early as this week the first oil and gas fields that will be opened up to foreign investors.
“It is the moment to put the energy reform into action,” Pena Nieto said in an elaborate signing ceremony at the National Palace.
He said details will be released on Wednesday on the areas of oil and gas production and exploration that will remain under the purview of the state energy monopoly Petroleos Mexicanos, or Pemex. Then, areas where Pemex can form partnerships with outside companies will be designated.
Officials hope to attract billions of dollars in outside money and bring in the expertise and technology to reverse the country's declining oil production.
Show commenting policy
TribLive commenting policy
- Turks, fleeing Kurds battle as Islamic State besieges town in Iraq
- Pakistan eyeing sea-based and short-range nuclear weapons, analysts say
- Libyan clashes could endanger oil exports
- Yemen signs peace deal with Shiite rebels
- 100 tons of supplies to fight Ebola sent to West Africa
- Thousands march in Moscow against Ukraine fighting
- Unity agreement eases Afghanistan’s political crisis
- Turkish hostages freed from Islamic State, but questions linger
- Islamic State link with well-heeled companies or individuals targeted
- Egyptian President al-Sisi feels vindicated in crackdown as Islamic extremists rise
- London must keep promises to Scotland, former Prime Minister Brown says