FINANCIAL TIMES: President Enrique Peña Nieto has unveiled plans to change Mexico’s constitution and open up the country’s energy sector to foreign investors for the first time in 75 years, a move that could unleash billions of dollars of investment from oil majors struggling to find new resources elsewhere.
His proposal to loosen the grip on Mexican energy of Pemex, the state oil monopoly, and invite in companies such as ExxonMobil and Royal Dutch Shell, is potentially the country’s biggest overhaul since the passage of the North American Free Trade Agreement in 1994.
“Mexico faces a historic opportunity,” Mr Peña Nieto said in a televised address from Los Pinos presidential palace in Mexico on Monday. “This profound reform can lift the standards of living for all Mexicans”… (more)
