STATE OF THE INDUSTRY

Over five years have gone since the Energy Reform was signed. Now, Mexico faces a new industry reality that will be managed by a new president and Congress. Mexico’s autonomous oil and gas regulators (CNH, CRE, ASEA and CENAGAS) will have to work with the new administration to showcase the benefits of an open market and ignite the consolidation phase of the reform. Even more importantly, the country’s policymakers, regulators and industry players should be listening to the international oil and gas industry to adapt best practices and technologies in Mexico and consolidate its attractiveness on a global level. Everyone involved in this industry knows that things are changing rapidly, particularly technology, cost-efficiency practices and environmental awareness. Mexico needs to take advantage of its geology and geographical position, particularly for logistics activities, to boost its oil and gas sector, achieve its production and energy efficiency targets and consolidate its position as an international oil and gas investment destination.