Nov 7, 2011

Mexico Politics and Economy: Can Mexico Open Its Oil Industry to Private Investors?

Brookings Institution: "The leading candidate for (the Mexican presidency) from the PRI, former State of Mexico governor, Enrique Peña Nieto, launched a trail balloon in October by telling the Financial Times of London that he would consider allowing private investments into Petróleos Mexicanos, popularly known as PEMEX.

His leading contender for the PRI prize, Senator Manlio Fabio Beltrones is less public in his willingness to consider opening the Mexican oil industry to private investors, but off the record, he has recognized PEMEX burgeoning debt and the opportunity to increase capitalization through private investment. Both suggestions of opening PEMEX to private investment confront well established dogma that Mexican oil remains the domain of the Mexican people; a principle enshrined in Articles 27 and 28 of the Constitution." read more

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