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Mexico's New Oil Era Is Here and Economic Legacy Is at Stake

2015-07-13 14:19:18| Energy - Topix.net

On Wednesday, the government will hold the first in a series of petroleum auctions that will help open the energy industry, bringing in an estimated $62.5 billion by 2018 and increasing annual output by 500,000 barrels a day. The exploration and production contracts, the first since then- President Lazaro Cardenas nationalized the fields in 1938, will end the monopoly of state-owned Petroleos Mexicanos, or Pemex.

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