Mexican government to propose constitutional energy reform in August

MEXICO CITY Wed Jul 24, 2013 6:07pm EDT

U.S. Secretary of Homeland Security Janet Napolitano (L) talks with Mexico's President Enrique Pena Nieto during a private meeting at Los Pinos presidential residence in Mexico City, in this July 24, 2013 handout photograph provided by the Presidency of Mexico. REUTERS/Presidency of Mexico/Handout via Reuters

U.S. Secretary of Homeland Security Janet Napolitano (L) talks with Mexico's President Enrique Pena Nieto during a private meeting at Los Pinos presidential residence in Mexico City, in this July 24, 2013 handout photograph provided by the Presidency of Mexico.

Credit: Reuters/Presidency of Mexico/Handout via Reuters

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MEXICO CITY (Reuters) - Mexican President Enrique Pena Nieto will present a constitutional energy reform to Congress in August, setting the stage for major new private investment in the oil sector, a top lawmaker said on Wednesday.

Pena Nieto has said he favors an overhaul of country's closed energy industry in an effort to lure private capital and boost flagging oil and gas production.

David Penchyna, leader of the Senate's energy committee and a member of Pena Nieto's Institutional Revolutionary Party (PRI), said the proposal will seek to change the constitution to allow either concessions or risk-sharing contracts.

"We will have President Pena's initiative in August," said Penchyna. "We do believe that the initiative will have to contain constitutional changes," he added.

(Reporting by David Alire Garcia and Adriana Barrera; Editing by Dave Graham)

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Comments (4)
Mylena wrote:
Nieto is not a good president. What kind of president wants his folks get documents in US? He is useless, and two faces.

Jul 24, 2013 7:10pm EDT  --  Report as abuse
Mylena wrote:
Nieto is not a good president. What kind of president wants his folks get documents in US? He is useless, and two faces.

Jul 24, 2013 7:10pm EDT  --  Report as abuse
Mylena wrote:
Nieto is not a good president. What kind of president wants his folks get documents in US? He is useless, and two faces.

Jul 24, 2013 7:10pm EDT  --  Report as abuse
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