Mexican Energy Reform, Three Years Later

In December 2013, Mexico passed a comprehensive constitutional reform that opened Mexico's energy industry to private investment and competition. Because of prior reform attempts, there was initial skepticism by industry participants regarding Mexico's ability to implement the reform. Almost three years after passing the reform, however, Mexico has successfully developed a new energy regulatory framework, which has created a brand-new energy play in the North American region. The reform has translated into tangible opportunities in different areas of its energy sector, where a broad range of national and international players are currently participating. This article analyzes the main developments in these sectors and future opportunities.