With the final voting schedule for its Energy Reform regularly pushed back, Mexico finally gives investors a piece of good news. The Senate voted Tuesday to end the rule stating that Pemex was the only player permitted to explore and exploit oil and gas resources in the country. The bill, which is expected to pass the Chamber of Deputies, would definitely open the door to foreign players investing in the Mexican oil and gas sector and attract as much as $20 billion in foreign investment a year.
The White House has tightened regulations for freight trains hauling oil, after coming under pressure to act following the derailing of an oil train in Lynchburg, Virginia, back in April. Old models will now progressively be phased out, oil tanker construction will have to follow far more stringent regulations while the trains will have to travel under lower speed limits.
After holding public hearings last week, the US Environmental Protection Agency is forging ahead with regulations that would heavily limit emissions that can be churned out by refineries. The EPA is calling for new measures at the country’s 149 refineries, including the first ever public measurement of benzene emissions, as well as setting specific acceptable emissions levels for flares, coking units and storage tanks.
Deals, Mergers and Acquisitions
Breitburn Energy Partners has closed a deal worth $3 billion to buy QR Energy, based in Houston, including QR’s…