| Pena Nieto Plans End to 75 Year Pemex Monopoly in Oil Production Eric Martin, Carlos Rodriguez, Helder Marinho - Bloomberg | |
| go to original June 18, 2013 |
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Mexican President Enrique Pena Nieto said he’s negotiating support to break the state monopoly over oil and gas exploration and production this year to accelerate economic growth.
In the model envisioned by Pena Nieto, state-owned Petroleos Mexicanos would develop certain fields, with others being tapped by foreign and private companies. He declined to discuss details of the proposal, or whether it would require a change in the constitution.
... Pena Nieto said his administration will send the energy bill to congress by September, when regular sessions resume, followed by a tax proposal. He said he’s confident the so-called Pact for Mexico of the country’s top three political parties will ensure the bill is approved by Congress by year end.
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