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Perspectives so-called Pact for Mexico (Pacto por Mexico) among the Reference: country’s three major political parties—the PRI, PAN, and Technically Recoverable Shale Oil and Shale Gas Resources:

PRD—will ensure passage of an energy bill by year’s end. An Assessment of 137 Shale Formations in 41 Countries

Only six months into his term, President Peña Nieto has Outside the United States. US Energy Information managed to push through two major constitutional reforms Administration. June 2013. Web: http://www.eia.gov/ in the telecommunications and education sectors, has analysis/studies/worldshalegas/pdf/fullreport.pdf.

proposed a comprehensive fnancial reform, and is expected soon to propose both energy and fscal reforms, all of which were agreed upon in the Pact for Mexico. Jose Valera is a partner in Mayer Brown’s

Passage of a constitutional amendment in Mexico requires global energy practice in the Houston a two-thirds majority in both houses of Congress and an offce. He focuses on domestic and affrmative vote of a majority of the state legislatures. The international energy transactions, and ruling party, the PRI, holds slightly less than 50% of the has more than 25 years of legal experi- seats in both houses of Congress, and would need the coop- ence representing oil, gas, and electric eration of one of the two other major political parties—the energy companies throughout the United

PAN and the PRD—to pass a constitutional amendment. The States, Central America, South America,

PAN is expected to support the energy reform bill. Thus, Africa, Asia, and the Caribbean. even without the support of the PRD, which has tradition- 2067_Zetechtics_half_corporate_Layout 1 14/03/2013 10:33 Page 1 ally opposed energy reform, the PRI and the PAN would Gabriel Salinas is an associate in Mayer have enough votes to pass the necessary changes to the Brown’s global energy practice in the constitution. Politically, however, and pursuant to the Pact Houston offce. He focuses on interna- for Mexico, a consensus between the three parties would be tional corporate and energy transactions required. and projects. He has experience repre-

Congress is prepared to debate the forthcoming proposal. senting companies on cross-border

Congressional leaders of Mexico’s main political parties mergers and acquisitions, asset and have agreed to hold two special sessions during the summer equity sales, joint ventures, and oil and to tackle outstanding initiatives so that they can focus on gas exploration and production projects, with a focus on the energy and fscal reforms in September. Latin America.

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