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Mexico likely to publish energy reform bills next week -president

Wed, 06th Aug 2014 22:37

MEXICO CITY, Aug 6 (Reuters) - Mexican President EnriquePeña Nieto said on Wednesday he would likely sign a series ofbills next week to implement the historic opening of thestate-run oil, gas and electricity sectors to more privateinvestment.

Mexican Senators are voting this week on laws aimed atattracting companies such as Royal Dutch Shell Plc andExxon Mobil Corp, and help stem declining crudeproduction in Latin America's No. 2 economy.

When asked by reporters if the laws would be published nextweek, Peña Nieto said: "It is very likely to happen that way."

A constitutional overhaul approved last year ended the75-year monopoly of state-owned oil company Pemex,which has struggled with falling output for a decade. Lawmakerstook months longer than expected to pass the bills needed toflesh out the reform.

The government had hoped to have the first auctions of oiland gas fields later this year, but it is now likely to takeuntil the third quarter of next year.

Pemex could move quickly in the coming weeks to announcejoint ventures with international oil majors as soon as theEnergy Ministry determines which fields the company will keepand which will be open to private companies.

The energy ministry has until mid-September to makes itdecision on the so-called Round Zero allocation for Pemex, butit could happen sooner.

Peña Nieto has sought the reforms to help boost Mexico'seconomy, which has lagged more dynamic emerging markets. Theeconomy grew 1.l percent during his first year in office andMexico is expected to post a 2.6 percent rate this year. (Reporting by Noe Torres. Editing by Andre Grenon)

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