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Mexico won't open Pemex to US in return for immigration deal: Fox

Mexico should be happy at least we haven’t threatened to nuke them for their oil. Am





Mexico City (Platts)--12May2003

Mexican president Vicente Fox firmly denied that his country is prepared to open state oil and gas company Pemex to US investment in return for an accord that would legalize the presence of millions of undocumented Mexicans in the US.

Late last week, the US House International Relations Committee approved a non-binding measure which says that any accord on immigration with Mexico should include an agreement to open Pemex to US investment. The measure, which went largely unnoticed in the US, caused outrage among Mexican politicians and launched a barrage of criticism in the nation's press. In a statement issued Sunday, Fox said the quest for a migration accord with the US remained a priority for his government but "in no way" would it accept any proposal to negotiate an agreement in exchange for an opening of Pemex to foreign investment. The statement added that the current administration was working to modernize Pemex but "we have said on many occasions that this government will neither privatize nor sell Pemex. We reiterate out commitment once more."

This story was originally published in Platts Global Alert.