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December 12, 2013

Mexican Senate Advances Energy Reform Bill 
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Mexico's senate has advanced a controversial measure that would overhaul
the country’s energy sector. Mexican President Enrique Peña Nieto
wants to open the state-controlled oil company to investment from
foreign multinationals after 75 years of nationalization. Jesus Zambrano
of the leftist Party of the Democratic Revolution said that if given
final approval, the measure should go before a national referendum.

Jesus Zambrano: "We warn all private, national and, above all,
transnational businesses and companies that want to come and invest in
Mexico and petroleum in order to expropriate Mexican petroleum, to think
again. The most probable outcome is that within a year and a half, a
recall referendum will reject this change."

The energy measure now goes to Mexico's lower house for final approval.

 

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