- The Washington Times - Thursday, August 7, 2014

After a long reform push, Mexican lawmakers put the finishing touches on a plan that would open Mexico’s energy sector to foreign investors, ending 76 years of state domination, The Wall Street Journal reported.

The new law would allow foreign and domestic oil and natural gas companies exploration and production rights, breaking the long monopoly held by state oil company Petróleos Mexicanos, created in 1938.

The reforms were a top priority for President Enrique Peña Nieto since he assumed office in December 2012. He’s set to sign the legislation into law in the coming days.

 


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