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Mexico’s reforms signal a changing oil industry

Mexico’s oil industry has entered a brave new era with the passage of landmark energy reforms

Optimism is running high in Mexico’s oil patch. The country has passed energy reform legislation that goes further in breaking the state’s 75-year monopoly over the industry than seemed possible just a few months ago. The measures, analysts and industry officials say, will help Mexico revive its moribund oil sector and could see it become an increasingly important regional and global player in the next decade.The reform package, which promises to open the sector to foreign investment and overhaul state oil monopoly Pemex, was hammered out by president Enrique Peña Nieto’s Institutional Revolutionary Party (PRI) and the conservative opposition National Action Party (PAN) and passed by the leg

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