Historic Energy Overhaul Advances In Mexican Congress
Mexico’s lower house of Congress passed early on Saturday the last package of bills needed to implement a landmark energy reform, moving the reform one step closer to final approval. Following a marathon three-day extraordinary session, lawmakers made minor changes to bills setting out fiscal terms of the reform, returning the legislation to the Senate for final passage next week. The reform championed by President Enrique Pena Nieto ends the monopoly on crude oil production enjoyed by state-run company Pemex and promises to lure international oil majors like BP and Exxon Mobil back to Mexico after the assets of their corporate forerunners were expropriated in 1938.
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