Mexico Largest Opposition Party Seeks Constitution Change on Oil

Mexico’s largest opposition party said it will propose changes to the constitution to end an oil monopoly by state-owned Petroleos Mexicanos, raising optimism of reform in the energy industry.

The National Action Party, or PAN, will push for an amendment to allow private companies to share risk in oil output, party spokesman Juan Molinar Horcasitas said in a telephone interview yesterday. The proposal is almost ready, though the PAN hasn’t decided whether to present it as part of a multi-party accord, known as the Pact for Mexico, or to push the bill on its own, Molinar said.