The research assesses if Mexico will benefit from the enactment of an environmental quality standard (EQS) for water contaminated with hydrocarbons, in light of Mexico’s energy reform. In addition, the research assesses the institutional challenges faced when trying to enforce such EQS, and the design elements for any such standard. The research compares the current regulatory framework for water contaminated with hydrocarbons in Mexico, which requires the preparation of an environmental risk assessment (ERA) for each case, with the enactment of two hypothetical EQS. The comparison is conducted using a multi-criteria analysis and information is gathered via expert interviews. Results indicate that Mexico will benefit from the enactment of an EQS, however several institutional challenges need to be solved to ensure effective enforcement.