PDVSA

Commentary
1:12 pm
Fri December 13, 2013

Look West, Miami, At Mexico's Epic Oil Reform

Drilling for oil in southern Mexico
Credit Flickr

When it comes to Latin American oil, South Florida’s attention seems exclusively fixed on South America. We focus on petro-titans like Venezuela and Brazil because we do so much trade with and receive so many immigrants from that region. But this week it was hard not to look west – across the Gulf of Mexico, at one of the most important oil reforms in almost a century.

Late Wednesday night, Mexico’s Congress approved President Enrique Peña Nieto’s plan to allow private and foreign participation in the country’s state-run oil industry for the first time in 75 years.

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