Mexican government will announce energy reform proposals soon

According to overseas media reports on March 8, Mexican Senator Ruben Camarillo said on March 6 that the ruling Conservative Party of Mexico will soon announce a plan to allow Mexican state oil giant Pemex to develop the Gulf of Mexico Energy reform proposals for crude oil reserves in deep water areas.
Camarillo told reporters at the El Universal newspaper that the bill will be separate from reform measures that may come from President Calderon or from possible reforms in the Senate Energy Committee.
Pemex hopes to make up for potential declines in the country's very large but aging Cantalel oilfields by developing potential deep-water fields.
However, Pemex lacks the know-how and know-how of working in deeper waters, and industry analysts believe that Mexico’s laws have prevented private companies from working with Pemex to conduct oil and gas exploration operations in deep waters in the Gulf of Mexico.
Camarillo, who served as Secretary of the Senate Energy Committee, said: "The reform we will propose will involve how we can solve this deep-water problem and how we can enter new oil and gas reservoirs that are 2,000 meters to 2,500 meters deep."
Some opposition legislators have completely ruled out changes in law in the past few weeks, and analysts say these changes are necessary to allow Pemex to enter deep-water fields.
The opposition’s tough stance on this issue will be enough to overturn any deepwater proposals, because Calderon’s political parties cannot get the support of most legislators in the parliament.