Mexico’s peso rose to a seven-week high after a joint bill presented by senators from the nation’s two biggest political parties went further to open up the nation’s energy industry than an earlier government plan.
Senators from Mexico’s two biggest political parties proposed a bill to break the nation’s 75-year oil monopoly by amending the constitution to allow production sharing contracts and licenses for outside producers.
Three years into her home-ownership dream, Martha Orozco has had enough. Stuck in a government- sponsored complex called Parque San Mateo that’s two hours away from her $8,000-a-year job as a hospital secretary in Mexico City, Orozco sees only broken promises and blight all around her.
Mexico’s peso advanced, heading for the biggest weekly gain in Latin America, as lawmakers from the country’s two largest political parties signaled they are almost finished drafting a bill to overhaul the energy industry.
Mexican Senate committees are set today to discuss a bill to end the nation’s seven-decade oil monopoly and open the energy industry to more foreign investment in a bid to reverse declining crude production.
Global oil majors from Exxon Mobil Corp. to Chevron Corp. are about to get the clearest indication yet of how far Mexican lawmakers will go to lure them into the largest unexplored crude area after the Arctic Circle.
Global oil majors from Exxon Mobil Corp. to Chevron Corp. are about to get the clearest indication yet of how far Mexican lawmakers will go to lure them into the largest unexplored crude area after the Artic Circle.
Mexico’s ruling Institutional Revolutionary Party is willing to expand the congressional energy bill and allow risk-sharing contracts with payment in oil production and not only cash as originally proposed by President Enrique Pena Nieto, PRI Senator Francisco Yunes said.