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Mexico Leader Said to Seek Changes to Break Oil Monopoly

Mexican President Enrique Pena Nieto will seek to amend several articles of the constitution to break Petroleos Mexicanos’s monopoly in the state-run oil industry, ruling party President Cesar Camacho said.

Pena Nieto will propose production-sharing contracts for oil exploration and output, Camacho said in a phone interview today. The proposal will seek to change articles 25, 27 and 28 of the constitution, and tenders for the most part would be managed by government regulators, and not by the state-company known as Pemex, two people with direct knowledge of the bill said yesterday. They asked not to be named because the bill will be officially presented later this week.