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Mexico Plans Oil Reserve Sweetener for Exxon in Overhaul

Mexico has come up with an inducement for private companies such as Exxon Mobil Corp. to bid on contracts that would end a 75-year state energy monopoly.

Though the government will retain ownership of oil, President Enrique Pena Nieto plans to lift restrictions on companies registering the value of contracts with the U.S. Securities and Exchange Commission, Deputy Energy Minister Enrique Ochoa said in an interview yesterday. Those values could then be converted into volume and recognized on balance sheets.