Mexico’s President Enrique Peña Nieto took steps on Monday, August 10th, that will hasten by about a month the opening of his nation’s energy sector to foreign companies.
Peña Nieto said his government will specify this week which of Mexico’s oil and gas fields would be opened to bids by foreign companies, and which will be reserved for use by Pemex (Petroleos Mexicanos), the national oil company.
This move will enable foreign companies to obtain information a month earlier than expected so they can prepare their bids. The first round of bidding is set for early 2015.
Peña Nieto also said his government would speed up the creation of a new administrator for Mexico’s network of natural gas pipelines, as well as a new operator of the electrical grid.
Overcoming objections in Mexico, Peña Nieto led a successful effort to end the Pemex monopoly on oil on gas production that began when the energy sector was nationalized 76 years ago.