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Two district judges have temporarily suspended certain provisions of the amendment to the Hydrocarbons Law.  Please see full story at link below.

https://www.mayerbrown.com/en/perspectives-events/publications/2021/05/mexico-amendment-to-hydrocarbons-law-is-partially-suspended?utm_source=vuture&utm_medium=email&utm_campaign={vx:campaign%20name}

On May 4, 2021, the first amendment to Mexico’s Hydrocarbons Law was published in the Federal Official Gazette, with the legislative process having concluded on April 22, 2021, after a heated debate during a plenary session of the Senate (the “Amendment”).

The Amendment modifies core aspects of the permits necessary to perform midstream

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Another amendment to the Hydrocarbons Law has been approved, ending the power of the Energy Regulatory Commission to enforce asymmetric regulation in the hydrocarbon, petroleum products and petrochemical markets.  The Legal Update at the link below explains the scope and implications of such proposed amendment.

https://www.mayerbrown.com/en/perspectives-events/publications/2021/04/mexico-another-amendment-to-hydrocarbons-law-would-eliminate-asymmetric-regulation-for-pemex?utm_source=vuture&utm_medium=email&utm_campaign={vx:campaign%20name}

Off shore wind turbines (Digital Composite)

Over the past number of weeks, a variety of legislative proposals, from both sides of the aisle, have been released that, if enacted, could drastically impact the US energy industry and, in many cases, the taxation of energy in the United States. These proposals come on the heels of the Biden administration’s American Jobs Plan…

Oilfield derrick
Following the Mexican government’s latest initiative to amend the Hydrocarbons Law, concerns about Mexico following in Venezuela’s footsteps to undo the energy reform are growing. It is important to keep in mind certain key differences between Venezuela and Mexico and how each country opened its oil and gas industry to private investment. This will help

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The House of Representatives approved the draft of an initiative to reform the Hydrocarbons Law with minor modifications notwithstanding the antitrust watchdog (COFECE) opinion. The Senate’s approval is next.

For more details on the approval and the next steps, see our legal update.

On March 31, 2021, the Biden administration released the American Jobs Plan (the “Infrastructure Plan”), which is a proposal that, if ultimately enacted, aims to modernize outdated infrastructure, create additional jobs and increase the United States’ global competitiveness. Alongside the Infrastructure Plan, the Biden administration released a Made in America Tax Plan (the “Tax Plan”), …

Power Plant

On March 26, 2021, the Mexican House of Representatives published in the Parliamentary Gazette an initiative to amend certain provisions of the Hydrocarbons Law, an amendment directly proposed by President Andrés Manuel López Obrador.

This Legal Update details the content of such initiative and the next steps for its approval.

pipeline

On March 17, 2021, U.S. Senators Chris Coons (D-Del.) and Bill Cassidy, M.D. (R-La.) and U.S. Representatives Marc Veasey (D-Texas) and David McKinley (R-W.Va.) introduced the Storing CO2 And Lowering Emissions (SCALE) Act. The bill is intended to help develop infrastructure buildout to transport CO2 from the capture site to be used as feedstock for the manufacture of other products, to oilfields where it is injected to enhance oil recovery, or to underground storage locations.  CO2 capture projects are expensive and the EPA permitting process for storage facilities is lengthy.  Thus, project financing and permitting are key drivers to determine the speed and scope at which global climate goals with respect to greenhouse gas reduction are achieved.  The 45Q tax credit for carbon capture and sequestration incentivizes carbon capture but is not by itself economically sufficient to provide the necessary equipment and transportation infrastructure.
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Continue Reading US – Storing CO2 And Lowering Emissions (SCALE) Act

Concept of hydrogen energy storage from renewable sources - wind turbines and photovoltaics. 3d rendering

The energy industry continues to evolve as sectors converge and as demand, supply and consumer preferences change. The global economy is shifting to lower-carbon sources of energy, coinciding with (or resulting from) a renewed focus on environmental, social and governance (ESG) issues. “Energy transition” is commonly used to describe the recent full-court press towards cleaner…