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December 16, 2013

A step closer to Mexico oil privatisation

Protests across the country continue as energy reform bill nears its final approval.

Leaders and supporters of the Mexican left-wing protest in Mexico City, Mexico, 03 December 2013, against plans that would liberalise the country’s tightly regulated energy business. (EPA/ALEX CRUZ)

Protests have swept Mexico, as a majority of the country's state legislatures approved a controversial energy reform bill that would privatise the country's oil industry. On Monday, 17 out of 31 states passed a measure that would permit private companies to work in oil exploration and production for the first time since 1938. The bill has been the fastest of President Enrique Peña Nieto's constitutional reform packages to be approved at a local level. The federal Congress must now certify the states' ratification in order for the president to sign it into law.