Oil and gas extraction captured $ 185 million of Foreign Direct Investment (FDI) in Mexico during the first quarter of 2020.

This same activity received 444 million dollars in 2017, then 851 million in the following year and 900 million in 2019, according to data from the Ministry of Economy.

In August 2014, the Mexican Congress ratified the implementation legislation of the constitutional energy reform approved in 2013 to allow the government to assign oil and gas exploration and extraction activities to private oil and gas companies, in addition to Pemex, which It was reorganized into a productive state entity through the energy reform.

As part of this reform, the Hydrocarbons Law and the Hydrocarbons Income Law jointly established the new legal framework that regulates activities ranging from exploration, extraction and refining to the distribution, storage, sales and marketing of hydrocarbons.

Also, the reform allowed Mexican and non-Mexican investors to participate in the bidding process for the exploration, production and transportation of oil and gas.

Petroleum

Since January 1, 2016, private companies have been able to have gasoline and diesel service stations that do not have to be a Pemex franchise.

Now, private companies can also import gasoline and diesel. On December 1, 2017, the Ministry of Energy announced that around 19% of service stations throughout Mexico are no longer PEMEX franchises but rather other national and foreign brands, with the addition of approximately 30 new brands in less one year.

With the increase in the number of fuel brands throughout Mexico, the oil and petrochemical industry is expected to invest nearly $ 4 billion in new infrastructure in the areas of storage and transportation of pipelines and railroads in the coming years.