Mexico’s oil and gas reserves go to international market; prepares for fracking in the gulf

 

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“After generations of state control, Mexico’s vast oil and gas reserves will soon open for business to the international market.

In December 2013, Mexico’s Congress voted to break up the longstanding monopoly held by the state-owned oil giant Petroleos Mexicanos — commonly called Pemex — and to open the nation’s oil and gas reserves to foreign companies.

The constitutional reforms appear likely to kickstart a historic hydraulic fracturing (“fracking”) and deepwater offshore oil and gas drilling bonanza off the Gulf of Mexico.” –more from DeSmog Blog

This entry was posted in Border, business, Economy, energy, Environment, Gulf, Mexico, News, Texas, U.S., World and tagged , , , , , , , , , , , , , , , , , , . Bookmark the permalink.

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