MEI Report No. 803 Mexico’s Energy Reform in 2015

MEI Report No. 803: Mexico’s Energy Reform in 2015

A Blowout in the First Year

THE DEPRECIATION OF THE MEXICAN PESO, touching MX$/19 to US$1, reflects, in large measure, the unfulfilled expectations of lenders and investors concerning the results of the first year of the rollout of the energy reform legislation of 2014. Lenders and investors expected that the new market design for the energy sector, especially in the upstream, would attract major oil companies with strong capital commitments. Such investments, in turn, would make the argument that oil production, exports and foreign exchange earnings would put Mexico in a position to assume new debt and replay existing obligations.

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Written by

Mexico Energy Intelligence

Baker & Associates offers niche-market business and policy intelligence related to Mexico's oil and gas, power and chemical industries. Over 1,000 reports have been issued in the last 20 years. Subject matter expert and publisher George Baker, who directs the firm, has carried out consulting assignments starting in the late 1970s at the height of the Oil Boom in Mexico. He brings bilingual and bicultural skill-sets to understanding and responding to challenges of business and public policy, coupled with a deep familiarity with the history and idiosyncrasies of the Mexican operating environment.