Legislation that could open Mexico's oil industry to private investment cleared the country's Congress. Although several hurdles remain, the overhaul could open many opportunities in Mexico for oil giants and independent producers in Houston. Mexico City Energy Partner Jose Antonio Prado says that there are still details that need to be worked out including licensing charges and production sharing formulas.
"Investors will look for the certainty of these formulas to start investing in Mexico," Mr. Prado said.
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