Thompson & Knight Hosts IFA Presentation on Mexico Energy Reform

Posted by John Cohn, Nancy Allred, Luis Gomar, and Joe Rudberg                               On July 22, 2015, the Dallas office of Thompson & Knight LLP hosted AN International Fiscal Association (“IFA”) presentation to the IFA Dallas Region on Mexico’s Energy Reform.  Currently, Mexico is undertaking a complete transformation of its energy sector.  In December 2013, Mexico’s Congress approved a series of constitutional amendments that ended the 75-year state oil monopoly and opened oil and gas exploration and production to foreign investment.  Last August, Mexico’s Congress approved additional legislation implementing the necessary reforms for the liberalization of the energy sector. Recently, on July 15, 2015, Mexico opened its first round of bidding for shallow water blocks. The impetus for Mexico’s energy reform is clear:  the government seeks private investment to boost oil and gas exploration and production. In particular, the government hopes that private investors will assist the state-owned petroleum company, PEMEX, to exploit future fields, including Mexico’s promising shale oil and gas fields and its deep-water oil resources.This presentation regarding Mexico’s energy sector reform and private investment featured a distinguished panel:Luis Gomar from Thompson & Knight’s Mexico City office provided background on the opening of the Mexico energy market to foreign investment, timing and types of current opportunities;Jose Manuel Ramirez of KPMG’s Mexico City and New York City offices discussed the current state of Mexico tax reform;John Cohn from Thompson & Knight’s Dallas office provided insight as to the international tax and the U.S. tax perspective of the reforms; andNancy Allred from Thompson & Knight’s Dallas office served as the moderator for this panel.If you were unable to attend the live presentation, you can watch the presentation at the link provided here:  Mexico Energy ReformThe program was planned by the leadership of the Dallas Region of IFA:Joe A. Rudberg of Thompson & Knight, Regional Chair;John R. Cohn of Thompson & Knight, Program Chair;Giorgio Massari Figari of KPMG, Membership Chair, andNancy Allred of Thompson & Knight, Young IFA Chair.If you have further questions regarding Mexico energy reform, please do not hesitate to contact Luis Gomar, John Cohn, or Nancy Allred at Thompson & Knight LLP.  Moreover, if you are interested in attending future IFA presentations, please email Nancy Allred at nancy.allred@tklaw.com or Joe Rudberg at joe.rudberg@tklaw.com to join IFA and be added to the IFA-Dallas Region correspondence list.