Elected just over a year ago, President Enrique Pena Nieto and his Institutional Revolutionary Party (PRI) forged a coalition with the conservative National Action Party (PAN) to alter the long-standing constitutional ban on private-sector exploitation of oil.

Pena Nieto, who campaigned on a reform agenda, said in a statement that the bill would bring sustainable energy supplies, economic growth and jobs for generations to come.

"This