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Mexico at the crossroads as calls for reforms grow louder

Reforms are vital if the country’s is to reverse its declining oil and gas profile – and unlock potentially vast unconventional resources. Justin Jacobs reports on how the politics are shaping up

Enrique Peña Nieto’s victory in Mexico’s July presidential election marked the return to power for the Institutional Revolutionary Party (PRI) after 12 years in opposition and has set the stage for the next round of battles over much-needed energy reforms in the country.  State-run Pemex holds a monopoly over Mexico’s oil and gas industry – its control over the industry from field to forecourt was enshrined in the constitution after the industry’s nationalisation in 1938. It is a model that, although inefficient and long the target of calls for change, kept the oil flowing for several decades. Mexicans took great pride in their country’s ability to operate one of the world’s largest oil ind

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