Six pipelines are currently being built in an expansion of Mexico's fuel transport capacity.
Political analyst Thomaz Favaro from Control Risks talks to BNamericas about the changes that the October presidential election could bring to the oil and gas industry.
The firm had announced the signing of a preliminary agreement for the acquisition of the thermoplastic firm back in April.
The bill now goes to the lower house for a vote.
Brazil's next administration will need to attract the private sector for infrastructure projects given the government's fiscal challenges, says Alexandre Garcia, an infrastructure analyst at Fitch Ratings.
Increased competition and global trends have had a significant impact on fixed assets in Mexico's energy sector. Asset management consultant Mauro Hoyer gives a bird's eye view of an evolving sector.