Pena Nieto Pushes Mexico’s Ruling Party to End Pemex Monopoly
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Mexican President Enrique Pena Nieto is poised this weekend to gain support from his party to end a 75-year-old state monopoly in the oil industry, marking a breakthrough for his growth plan.
The ruling Institutional Revolutionary Party will decide at its national assembly whether to drop its opposition to constitutional changes that would ease state-owned Petroleos Mexicanos’s grip on the oil industry. Pena Nieto, who hasn’t yet presented a bill proposing the changes, would still have to win the votes in Congress, where his party has a plurality in both houses.