The lower chamber of Mexico’s Congress followed the lead of the Senate on Wednesday night by approving an energy reform bill that would open the country’s nationalized oil and gas industry to foreign investment.
The bill, which proponents say will help Mexico reverse its declining oil production with the help of foreign capital and expertise, passed on a 354-134 vote, clearing the two-thirds vote hurdle necessary for passage. The Senate approved the bill late Tuesday.
As a change to the Mexican constitution, the proposal also must be approved by a majority of state legislatures. They are expected to do so, though opposition to the measure in some quarters remains fierce.