- Fondo Mexicano del Petróleo (Translation: Mexican Petroleum Fund): An independent organism in charge of receiving & administrating all payments, profit and capital generated by the public segment of the Mexican oil & gas industry that does not correspond to the Mexican government through taxes. This money can then be invested in a transparent and focused manner on any number of community development projects that could possibly seek to offset the human and environmental impact of oil and gas exploitation and development activities. These funds can also be invested in technology, education and renewable energy (among other things).
- Centro Nacional de Información de Hidrocarburos (Translation: National Center of Hydrocarbon Information): An institute working under the command of the CNH that will be responsible for keeping track of all exploration-related information and quantifying all reservoirs being discovered and moving into or between the 1P, 2P and 3P categories; this will help the CNH become the regulatory authority on Mexican hydrocarbon reserves that it was designed to be. It will also transfer the ownership of exploratory information; the Mexican state, not Pemex, is now its rightful owner.
- Centro Nacional De Control del Gas Natural (Translation: National Natural Gas Control Center): A kind of centralized command center where the proper operation and maintenance of the Mexican pipeline system will be executed and supervised. The creation of this center will incentivize private investment into pipeline construction, operation and maintenance projects by increasing the security and productivity of said infrastructure and also fighting back against the menace of illegal tapping.
- Agencia Nacional de Seguridad Industrial y Protección al Medio Ambiente del Sector Hidrocarburos (Translation: National Agency of Industrial Security and Environmental Protection for the Hydrocarbon Sector): A specialized regulator that assumes some of the regulatory functions previously executed by government offices such as the Semarnat (Secretaría de Medio Ambiente y Recursos Naturales, or Ministry for the Environment and Natural Resources) and the Profepa (Procuraduría Federal de Protección al Ambiente, or Federal Attorney’s Office for the Protection of the Environment). Basically, it becomes the sole responsible of regulating the Mexican oil & gas industry in terms of environmentalism and ecological impact. The creation of this agency responds to concerns regarding the relative inexperience and inefficiency of the Semarnat and the Profepa to regulate an industry that is arguably beyond their institutional scope (these two organisms tend to have their hands full with issues such as the constant illegal logging of Mexican forests or the contamination of water through excessive littering). As the Mexican oil & gas industry shifts it attention towards more environmentally risky practices such as deepwater and shale gas exploitation, this agency will become essential to the safe, peaceful and “uneventful” future of the industry.
- Compañía Productiva del Estado (Translation: Productive Company of the State): The current legal designation used to describe the new status of Pemex and CFE under the Mexican constitution (as opposed to their previous designation as “Parastatal Companies”). Honestly, not even experts from think tanks such as IMCO have managed to figure out the true meaning of this term; it is found nowhere else in the Mexican constitution, and the current version of the energy reform does not manage to successfully clarify the matter. We are sorry to disappoint in this regard; if anybody can illustrate the meaning of this last term for us, please leave us a comment below.
by Pedro Alcalá