Mexico's PRI rejects downstream opening.(institutional revolutionary party)

The Oil Daily | July 24, 2008| | Copyright

Mexico's main opposition party, the Institutional Revolutionary Party (PRI), presented its own energy reform proposal Wednesday, rejecting President Felipe Calderon's April initiative to allow a modest increase in private sector participation in the oil industry.

The opposition proposal highlights how strongly most legislators--and their constituents--support state oil company Pemex's almost complete monopoly over Mexico's hydrocarbons sector.

Presented to congress by Senator Malio Fabio Beltrones, the PRI proposal drops Calderon's scheme to allow greater ...

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