Energy Reforms Would Open Mexicos Petroleum Industry To Global Investment

In a bid to fulfill a campaign promise, Mexican President Enrique Peña Nieto has proposed a change to the constitution to allow private companies to share in the development, transportation and refining of Mexico’s vast energy resources, which are reserved exclusively to Petróleos Mexicanos (PEMEX). The changes would revert the constitution to its 1940 position, maintaining national ownership of all hydrocarbons but overturning 1950s-era changes that prevent any private interest participating in the energy industry.