Mexico Energy Reforms Draw $4.75B in Renewables, Pemex CEO Exits

Mexico's energy sector is undergoing a significant policy shift under President Claudia Sheinbaum, opening the door to billions in private investment for renewable power generation. According to OilPrice.com, a new National Energy Reform announced in March 2025 encourages private sector participation, aiming to add 22 GW of new power generation capacity by 2030 and increase clean energy's share to 40 percent.

The reform marks a reversal from prior policies of energy nationalization. It mandates that at least 54 percent of the national grid's electricity must come from the state-owned Federal Electricity Commission (CFE), leaving 46 percent for private producers. Mexico’s Energy Minister Luz Elena González announced in December that private companies plan to invest $4.75 billion to build 20 renewable energy projects, adding 3.32 GW of generation and 1.48 GW of storage capacity.

These projects include 15 solar plants and five wind farms across 11 states, with most expected to begin operations in 2028 and 2029. The government also plans to construct three additional solar plants and invest $2 billion in transmission infrastructure. The reform dissolved previous independent regulators, replacing them with a centralized National Energy Commission (CNE).

In related leadership news, the state oil company Petroleos Mexicanos (Pemex) is seeing a change at the top. Rigzone reported that Pemex Chief Executive Officer Víctor Rodríguez Padilla is stepping down, with President Sheinbaum tapping the company's CFO to run the oil giant.

Globally, Shell's latest financial disclosures highlight where major oil and gas revenues are flowing. Rigzone reported that Shell remitted a total of $23.84 billion to governments in 24 countries for its upstream activities in 2025. Brazil displaced Nigeria as the top recipient, receiving $4.25 billion from the energy giant.

For Bakken operators, these developments underscore the evolving global energy landscape. Mexico's pivot to attract private capital for a major renewables buildout signals increasing competition for investment dollars in the Western Hemisphere. Meanwhile, the substantial government payments from majors like Shell illustrate the high fiscal stakes of oil-producing regions, a constant consideration for North Dakota's state budget and regulatory environment.