IPFS News Link • Mexico
Mexico To Open The Floodgates To Foreign Oil Companies
• http://www.mintpressnews.com, By Trisha MarczakMexico’s president is calling on lawmakers to pass legislation that would allow foreign oil companies to tap resources in the now-privatized Mexican oil industry, opening up the doors — partially — to companies like Shell and Exxon, which have long eyed the nation’s dense oil resources.
President Enrique Peña Nieto isn’t ridding the nation’s privatized oil industry. Instead, he’s allowing international companies a piece of the pie, yet not enough to drain the Mexican government-owned Pemex Oil, whose revenue makes up one-third of the government’s budget.