After settling electoral reform on December 3, 2013, Mexico is shifting its attention to its highly publicized and highly criticized reform of the oil industry.

Lawmakers are still adjusting the fine print of the bill but the main point of opening up the country to private investment remains intact. Concessions and lucrative contracts involving Petroleos Mexicanos (Pemex) are being debated and the magnitude of the reform is being explored by government officials.

President Enrique Peña Nieto originally released a plan on August 12, 2013, to l...

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