Pena Nieto Ponders Easier Way to Open Mexican Oil Industry

Bloomberg, 10/4/2012

Enrique Peña Nieto

President-elect Enrique Pena Nieto’s team is looking at ways to open up Mexico’s energy industry that wouldn’t require changes to the constitution, a top economic adviser said.

Pena Nieto wants to break state-owned Petroleos Mexicanos’s monopoly on refining and exploration and is considering legislation that wouldn’t involve the two-thirds congressional majority needed for constitutional changes, Ildefonso Guajardo said. Pemex, as the company is known, is struggling to reverse seven years of production declines that have cut output 25 percent from a peak of 3.4 million barrels a day in 2004.

Read more…


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s