Mexico's opposition Conservative Party leader's market-friendly energy reform last Thursday announced an outline, saying it will attract billions of dollars of private investment, the country's struggling oil and gas sector.
National Action Party, or PAN leader's proposal to amend the Constitution of Mexico, a long-standing barriers to allow private concessions or joint ventures with multinational oil companies articles.
Centrist Institutional Revolutionary Party President Enrique Pena Nieto, or PRI, also promised a sweeping energy reform, but details are expected to wait until September.
Pan following proposals introduce a separate energy reform plan leftist Democratic Revolution Party, Pena Nieto increasing pressure to show his hand.
"Our oil industry operating mode dry", PAN party chairman Gustavo Madero told reporters. "This is an unsustainable and non-viable model, the need for a thorough reform, to return to productivity."
Madero said, and turned to Mexico flagging oil and gas production will be achieved "through concessions," the party's plan would allow Pemex company is more like a private company management and budgetary autonomy.
Mexican oil production has dropped 3.4 million barrels to 250 million barrels per day in 2004 the peak period.
Mexico, the current legal framework for the Mexican national oil company exploration, production, refining and the country's oil and its derivatives commercialization exclusive rights.
Pemex is allowed a variety of oilfield services outsourced to a third party, but is forbidden to pay or profit as a percentage of production to provide services.
Pan Congressman Ricardo Anaya described the plan as a "deep reform" will lead to greater competition. Such an opening, he said, would lead to private investment of up to 30 billion per year and at least 100,000 new jobs.
Anaya stressed that the party's program will remain under state ownership of oil and gas resources.
Mexico is the world's seventh-largest crude oil producer, has been jealously guarded since the nationalization of the oil industry in 1938, will meet the leftists and traditionalists strong opposition in Congress any plans to allow foreigners coarse any title.
Pan National Hydrocarbons Commission's plan will be responsible for granting concessions, and create a new, independent Mexican Petroleum Fund, responsible for the management of oil profits.
It will also amend the Mexican Constitution, Articles 25, 27 and 28. Pan did not say what changes will be made.
The party's specific bill is expected on July 31.
 



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