Energy Reform Approved / Vulcan Materials

Energy Reform. President Claudia Sheinbaum celebrated the approval of the energy reform, highlighting that private sector involvement will be permitted under clear investment guidelines. "This will ensure organized participation tailored to the specific needs of each region in the country. We will prioritize clean and renewable energy generation, backed by a balanced distribution of benefits." 

The Chamber of Deputies passed the energy reform with 353 votes in favor and 122 against. The reform establishes that 54% of the nation's electricity generation will be handled by the CFE, aiming to strengthen sector planning and ensure a reliable power supply. The remaining 46% will be open to private sector participation.

Dos Bocas Refinery. President Claudia Sheinbaum said Dos Bocas is currently operational and is functioning at 80% capacity. In August, the Dos Bocas refinery improved its performance, processing 84,128b/d, marking a 29% increase from the previous month. The primary objective for the new administration is to prioritize domestic consumption of this production rather than exporting it, an initiative supported by the rehabilitation of the National Refining System.

Vulcan Materials. President Claudia Sheinbaum emphasized that the designation of the Calica lands as a Protected Natural Area (ANP) should not be seen as expropriation but as an environmental conservation effort aimed at safeguarding the region's ecological integrity.

Vulcan Materials is a leading producer of gravel, sand and crushed stone that has mined limestone in Quintana Roo since 1986. However, in 2018, the company initiated a legal arbitration case against Mexico under USMCA, due to the revocation of its port concessions.  In May 2022, Vulcan Materials' activities were shut down by the Mexican government due to environmental concerns regarding its underwater limestone extraction. Vulcan stated that it has all the necessary permits to operate and is resorting to all legal means to defend its rights and restart its activities as soon as possible.

COP29. President Claudia Sheinbaum will not attend the upcoming COP29, the UN Climate Change Summit. Instead, Alicia Bárcena, Minister of SEMARNAT, will represent Mexico. 

COP29, the upcoming gathering of the 198 signatories to the United Nations Framework Convention on Climate Change, is scheduled to occur in Baku, Azerbaiyán, from Nov. 11 to 22. The previous summit, COP28, took place in Dubai and set a record for attendance, attracting 97,000 delegates and more than 150 heads of state.