Mexico's Lower House Approves Bill to Reform Oil and Gas Sector
After approval from the Mexican Energy Commission of the Chamber of Representatives (Cámara de Diputados), the country's lower house of congress approved on April 14, 2021, the bill to reform the Hydrocarbons Law (Ley de Hidrocarburos) in a vote of 271 for and 134 against. The bill, which Mexico's president presented on March 26, 2021, could favor state-owned oil company, Petróleos Mexicanos (Pemex), and expand government control over fuel distribution, imports and marketing.
The Federal Competition Commission (Comisión Federal de Competencia Económica) recommended that Congress not approve the measure because of its potential anticompetitive effects in the oil and gas sector.
The Senate, which is controlled by the ruling Morena party, will now take up the bill. If approved, the president is expected to enact it in Mexico's Official Federal Gazette (Diario Oficial de la Federación).
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