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Mexico: Compromises more likely following Pemex referendum

A REFERENDUM organised by an opposition political party on the future of state-owned Pemex produced a thumping majority against allowing greater private-sector involvement in the oil sector. That does not spell the end of government attempts to push through reforms aimed at greater liberalisation of Pemex, but it may make compromises more likely. Discussion of Pemex among Mexicans is often contentious, given its iconic role as the country's biggest revenue earner – providing nearly 40% of government income – and as a large employer. Indeed, the company's status as a publicly owned entity is enshrined in the country's constitution However, the national oil company has been struggling to fun

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