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MEXICO CITY (AP) — A Mexico senate committee on Saturday proposed the most dramatic oil reform in decades that would open the country's beleaguered, state-run sector to private companies and investment.
By Dave Graham, Adriana Barrera and Simon Gardner MEXICO CITY (Reuters) - Mexican lawmakers unveiled a draft energy bill on Saturday that includes contracts ranging from profit-sharing and risk-sharing to licenses to lure private investment, in what would be the biggest oil-sector opening in decades for the world's 10th biggest oil producer. Approval of the bill would mark the end of the decades-long oil and gas monopoly held by state-run Pemex, which is struggling to reverse a sharp slide in oil output due to years of chronic under-investment. The bill, which would keep ownership of crude in state hands, is at the center of an economic reform drive that President Enrique Pena Nieto hopes will boost long-lagging growth in Latin America's No. 2 economy. But it is a big step from the service contracts currently on offer, under which companies are paid a fee, and also goes well beyond the proposal made by Pena Nieto in August, which was limited to profit-sharing contracts.
Real Madrid badly missed the firepower of Cristiano Ronaldo and Gareth Bale as they were held 0-0 away to third tier Olimpic Xativa in the first-leg of their Copa del Rey fourth round tie on Saturday. With Ronaldo suspended following his red card in last year's final defeat to Atletico Madrid and Bale left in the Spanish capital due to the flu, Real boss Carlo Ancelotti handed starts to young forwards Alvaro Morata and Jese Rodriguez. After a first-half devoid of clear-cut chances, Madrid improved markedly after the break as Isco and Morata both wastefully fired wide when presented with good sights of goal.