Mexican oil industry stands at a crossroads

By Terry Macalister

 05 July 2012 22:59 GMT

THE election results will bring a change of government in Mexico but will they trigger a major shake-up in the oil industry?

The winning Institutional Revolutionary Party (PRI), has stormed back into power after a 12-year wait and promised to put the fizz back into a stuttering hydrocarbon sector.

There were allegations flying around from disappointed opponents that the poll was “fraudulent”, triggering fears of widespread demonstrations.

However, Enrique Pena Nieto, the PRI’s charismatic leader, seemed to have secured around half the seats in Congress and the Senate for his party, with final votes still being counted.

That is still well short of the two-thirds majority he needs to unilaterally push through constitutional changes and really…

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