Saturday, 08 September 2012 13:52
VLADIVOSTOK: Mexico, the world's seventh-largest oil producer, needs to change its oil exploration laws to boost output by allowing foreign oil firms greater access, outgoing President Felipe Calderon said on Saturday.
Mexico's oil industry is dominated by state monopoly Pemex and private companies have limited access to the market. The country faces a key test as production has fallen sharply in recent years and Pemex risks becoming a net importer of crude within a decade.
Calderon, who ...