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New era for Pemex as government wants foreign investment

The government wants foreigners back in the upstream. What will the reform mean for Pemex?

This year is set to be the most important for Mexico’s state oil company Pemex since it was founded in 1938. More than 70 years ago, the then-government barred foreign oil companies (mostly from the US) from the country’s oil sector, and handed the nationalised fields to Pemex. Now, however, it looks like Mexico will ask those companies to return. Mexico’s three main political parties will try to frame an energy reform programme this autumn aimed at bringing foreign investment back into the country. “The country is in a position to carry out reforms to the energy sector that will transform and raise the standard of living of all Mexicans. As the President and as a Mexican, I am totally conv

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