Mexico Seeks Quick Investment With Energy Reform Rules

Troubled Congress

The current session of Congress was to end on Wednesday and it is not formally due to reconvene until September. The government had hoped to pass the laws in the session but disputes with the opposition delayed them.

To speed up the process, Congress will call extra sessions and lawmakers hope to pass the energy laws by the end of June.

However, a backlog of legislation has built up in Congress and some officials in Pena Nieto's Institutional Revolutionary Party, or PRI, say it might take longer than that.

The PRI, which created state oil giant Pemex in 1938 when it expropriated the assets of foreign oil companies, wants broad consensus over the energy laws and is counting on support from the opposition center-right National Action Party (PAN).

The PAN, which has been riven by in-fighting amid a bitter party leadership contest, has made its support on energy conditional on the passing of an electoral reform that will weaken the PRI's longstanding domination of Mexican politics.

The negotiations on electoral reform have advanced more slowly than the PRI had hoped in the Senate and could still affect the fate of the energy legislation.

(Additional reporting by David Alire Garcia; Writing by Dave Graham; Editing by Kieran Murray and Chizu Nomiyama)


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