"Mexican Congress Approves New Rules for Oil Industry"

"MEXICO CITY — Mexico’s Congress approved on Tuesday a sweeping overhaul of the energy industry that cleared the way for international giants to tap Mexico’s rich reserves of oil and gas.

The new legislation is the centerpiece of President Enrique Peña Nieto’s plan to jump-start economic growth by allowing competition in one of Mexico’s most stagnant sectors.

After weeks of debate, legislators approved most of the rules governing changes made last year to the Constitution that ended 75 years of state control over the energy industry."

Elisabeth Malkin reports for the New York Times August 5, 2014.

Wednesday, August 6, 2014