Mexico Oil Opening First Time Since 1938 Shows Revival: Energy
This article is for subscribers only.
For the first time in 74 years, Mexico may allow private investment in its oil and gas, the third-largest reserves in Latin America.
Enrique Pena Nieto, the leader in all major polls to win the July 1 presidential election and a member of the party that nationalized the industry in 1938, said April 12 that Mexico’s oil production “can outperform and grow” through private investment. The same day, his closest rival, Josefina Vazquez Mota, proposed to list “a minority stake” in state oil monopoly Petroleos Mexicanos, which has $126 billion in revenue.