Bush says Mexico needs private money in energy sector

MEXICO CITY (Reuters) – President Bush urged Mexico on Wednesday to seek private investment to boost state-run oil monopoly Pemex’s efforts to explore for oil in deep waters of the Gulf of Mexico.

Bush, due to visit Mexico next week, said the country would win out from permitting extra investment that could accelerate crude oil production projects to meet growing global demand for energy.



“Mexico has a valuable asset in the energy sector, and demand for that energy is important,” Bush told the Reforma newspaper in an interview.

“As we well know, as Mexico expands its oil production into deeper waters in the Gulf of Mexico, it will require even more capital,” he said in comments translated into Spanish.

Reuters