Legislators in Mexico blocked President Felipe Calderon’s plan to allow private companies to refine oil for state-owned Petroleos Mexicanos (Pemex), according to a Bloomberg.com report. The report said: “The defeat for Calderon follows draft legislation he sent to Congress in April seeking to allow private and foreign companies to operate oil refineries in Mexico, and to explore for and produce oil for Petroleos Mexicanos, or Pemex. Under current law Pemex can hire private companies to upgrade plants but can’t contract with them to refine oil.”
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