Mexican Senate approves broader freedom for Pemex

10/24/2008 | NYTimes.com

The Mexican Senate on Thursday approved legislation that would give Pemex more freedom to work with private companies. Critics, however, say lawmakers continue to bar the private investment that the state-run oil industry needs to boost production. Analysts say offshore drilling is Mexico's best hope for turning around its production numbers, but Pemex lacks technology and capital without foreign investors.

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