December 11, 2013 / 3:36 PM / in 4 years

Mexico Senate OKs energy reform, pends lower house approval

MEXICO CITY, Dec 11 (Reuters) - Mexico’s Senate on Wednesday signed off on an energy bill that aims to lure private capital into the state-run oil and gas industry in the biggest shake-up since a 1938 nationalization, sending it to the lower house for debate and final approval.

The overhaul is designed to entice private companies and oil majors to operate independently in Mexico or partner with state oil giant Pemex through production- and profit-sharing, service contracts and licenses.

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