Mexico's Senate OKs Bills Expanding Power of Energy Regulators

Posted by Joseph R. Fonseca
Monday, July 21, 2014

Mexico's Senate gave general approval on Monday to legislation laying out expanded powers for energy regulators, part of the fine print needed to implement a constitutional reform that overhauls the oil, gas and electricity sectors.

Senators must still debate reservations to the regulatory legislation, which is likely to last into the night.

The legislation forms part of the so-called secondary laws needed to flesh out the opening of the energy market, which is the centerpiece of the government's reform agenda.

Once the reservations have been voted on in the Senate, the focus will move to the lower house of Congress, which is already debating the secondary laws passed by the upper chamber.

Monday's legislation provides the national hydrocarbons commission and the energy regulatory commission with budgetary and management autonomy as well as new powers to supervise and sanction newly opened energy markets.

Meanwhile, two other bills passed late on Sunday define the administration and new transparency measures for state-run oil company Pemex and national electricity utility CFE.

That legislation gives Pemex more budgetary autonomy and a new tax structure, while gradually requiring both Pemex and CFE to operate as competitive firms.

Both sets of bills were passed by a coalition of the ruling Institutional Revolutionary Party (PRI) and the center-right National Action Party (PAN), and opposed by a collection of center-left parties.

Separately on Monday, lower house committees passed the hydrocarbons law that spells out the terms of the potentially lucrative oil and gas production licenses and contracts in President Enrique Pena Nieto's reform.

The hydrocarbons law, which forms the heart of the energy reform, has already passed the Senate.

The legislation moving through the Senate must be complemented by bills detailing the new fiscal regime and a planned wealth fund. They have yet to advance in Congress.

The reform package ends the exploration and production monopoly held for decades by Pemex, as well as the monopoly held by CFE.

Final congressional approval of the secondary laws is expected by the end of July or early August.

(Reporting by David Alire Garcia; Editing by Simon Gardner, Meredith Mazzilli and Ken Wills)

Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

New CEO for Evergas

Evergas has appointed Steffen Jacobsen as CEO of the company as of 8 May 2015 Mr. Jacobsen joined Evergas 1 February 2015 as Vice President, Fleet after almost 35 years in Maersk.

NCSP Group Cargo Traffic Up 6% in Q1 2015

Novorossiysk Commercial Sea Port Group (NCSP Group or the Group) (LSE: NCSP, Moscow Exchange: NMTP) reports that Group’s consolidated cargo turnover in Q1 2015 increased by 2 million tonnes or 6.

Naming Ceremony of Evergreen's EVER LYRIC

Evergreen Group today held the naming ceremony for EVER LYRIC, the eighth of its L-type vessels built by CSBC Corporation in Taiwan. The ceremony took place

Finance

Seaspan Takes Delivery of New Containership

Seaspan Corporation (SSW) has accepted delivery of a 14000 TEU containership, the YM Wellhead.    The new containership, which was constructed at Hyundai Heavy Industries Co.

'Make in India’ - the Newbuzzword in Indian Shipping Sector

The Prime Minister Narendra Modi's  'Make in India’ initiative offers a plethora of opportunities in the maritime sector, particularly in shipbuilding, with the

Baltic Index Perks up on Increased Rates for Bigger Vessels

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, edged higher on Thursday as rates for bigger vessels rose.

Energy

New CEO for Evergas

Evergas has appointed Steffen Jacobsen as CEO of the company as of 8 May 2015 Mr. Jacobsen joined Evergas 1 February 2015 as Vice President, Fleet after almost 35 years in Maersk.

Icebreakers Ordered for Neft’s Novy Port Project

Aker Arctic’s icebreaker design selected for Gazprom Neft’s Novy Port project   Aker Arctic and Vyborg Shipyard have confirmed a contract for the design of two

MacGregor's Pusnes bow loading systems for Suezmax Tankers

MacGregor, part of Cargotec, has secured contracts to supply Pusnes bow loading systems for three newbuild shuttle tankers intended for operations in Brazilian waters.

News

New CEO for Evergas

Evergas has appointed Steffen Jacobsen as CEO of the company as of 8 May 2015 Mr. Jacobsen joined Evergas 1 February 2015 as Vice President, Fleet after almost 35 years in Maersk.

NCSP Group Cargo Traffic Up 6% in Q1 2015

Novorossiysk Commercial Sea Port Group (NCSP Group or the Group) (LSE: NCSP, Moscow Exchange: NMTP) reports that Group’s consolidated cargo turnover in Q1 2015 increased by 2 million tonnes or 6.

Naming Ceremony of Evergreen's EVER LYRIC

Evergreen Group today held the naming ceremony for EVER LYRIC, the eighth of its L-type vessels built by CSBC Corporation in Taiwan. The ceremony took place

Government Update

China Snubs G7 Declaration on Sea Row

Reacting to recent declaration of  the Group of Seven (G7) major nations' Foreign Ministers on maritime , China said “the situation of this region is generally stable,

Newport News Shipbuilding Hosts Sen. Inhofe

Huntington Ingalls Industries (HII) today hosted Sen. James M. Inhofe, R-Okla., for a tour of the company's Newport News Shipbuilding division.   The senator,

Severn Trent De Nora's OMNIPURE Systems Get USCG Approval

The new OMNIPURE™ Series 55/64 marine sewage treatment systems from Severn Trent De Nora have received final certification from the United States Coast Guard

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Navigation Offshore Oil Pipelines Port Authority Salvage Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1623 sec (6 req/sec)