Mexican Candidates Say They Favor Oil Privatization
Mexico’s leading presidential candidates have both spoken in favor of allowing private investors into the state run oil industry, the Financial Times reports. Pemex, the state-run monopoly is the world’s fourth largest oil company by production. But as production has steadily lagged in recent years, politicians are waking up to the need for foreign investment and technology to get at the oil deep in the Gulf of Mexico, though public sentiment remains solidly anti-privatization. As it continues to develop, there’s no doubt this could be a huge investment story.
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