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Mexico Congress approves biggest oil sector shake-up in decades

A demonstrator sits next to a banner at the perimeter of the Congress building during a demonstration against the energy reform bill in Mexi
A demonstrator sits next to a banner at the perimeter of the Congress building during a demonstration against the energy reform bill in Mexi

MEXICO CITY (Reuters) - Mexico's Congress on Thursday passed a landmark energy reform to open up the country's ailing energy sector to private investment, in what marks the biggest shake up of the ailing state-run industry in 75 years.

The lower house gave final approval to the reform, a day after the Senate gave it the green light. The bill now pends ratification by Mexico's state legislatures, which are dominated by President Enrique Pena Nieto's ruling party, before he can sign it into law.

The energy bill is a cornerstone of an ambitious reform agenda spanning telecoms to bank lending that Pena Nieto hopes will boost growth in Latin America's No. 2 economy, which for years has lagged regional peers.

(Reporting by Mexico Newsroom)

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