On March 18, 2025, President Claudia Sheinbaumpublished in the Federal Register (“DOF”) the Decree enacting a package of implementing legislation concerning the Mexican energy industry (the “Decree”). This communication focuses on the portion of the Decree related to the oil and gas sector. Particularly, the new Hydrocarbons Sector Law (“LSH”), the Law on the State-Owned Company, Petróleos Mexicanos and the Biofuels Law (“LBC”), as well as the amendments to the Law for the Mexican Petroleum Fund for Stabilization and Development (“LFMPED”) and Hydrocarbons Income Law (“LISH”) (originally published on August 11, 2014). In previous communications, we have addressed legislation in the electricity sector, energy planning and transition, the National Energy Commission, and other areas of the energy industry. Because the enacted laws did not substantially vary from the original bills, we limit to discussing the oil and gas laws. Due to the extension of the changes, this first section addresses the upstream sector and the reorganization of Petróleos Mexicanos (“PEMEX”).

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