Mexico's Hydrocarbons Revenues Law Could See Changes With Bill

Last month, Senator Dolores Padierna Luna of the Workers' Party (PT)—part of the Morena coalition that supports left-leaning presidential candidate Andrés Manuel López Obrador—submitted a bill to the Mexican Senate proposing to amend the current Hydrocarbons Revenues Law. Initiatives such as this bill are to be expected in the near future from the parties opposing the recent petroleum industry reforms in Mexico.

Among the most relevant changes proposed by the bill are:

• A signature bonus for E&P contracts would be applicable for all types of contracts and adhere to a minimum of 5 percent of expected value of hydrocarbons to be produced in the area;
• The Ministry of Finance (SHCP) would establish tie-breaking procedures and award criteria for bidding processes;