Mexican Privatization: Well, On Second Thought...

Mexico's Zedillo slaps limits on foreign petrochemical ownership

Every year on Mar. 18, Mexico's President leads a grand celebration to mark the day the country nationalized its oil industry in 1938. This year, President Ernesto Zedillo Ponce de Leon went to the sweltering oil terminal of Ciudad del Carmen to solemnly vow never to part with the nation's sacred wells. What he didn't mention was the major controversy that has been brewing over the government's efforts to sell part of its energy sector--secondary petrochemicals.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.