SAO PAULO (AP) - Mexico's president-elect says the private sector must be allowed to help modernize his country's state-owned oil company to increase productivity and make it more competitive.
Enrique Pena Nieto spoke Wednesday after meeting Brazilian business leaders at the Sao Paulo Federation of Industries.
Pena Nieto says Petroleos Mexicanos needs major investments in oil exploration, production and refinement "and that will only be possible through partnerships with the private sector.
He says he is not proposing the privatization of Pemex, but its modernization.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
The Nickelodeon star's antics continue in New York City.
A Philadelphia bicyclist has teamed up with a cat for tandem rides.
See George Washington's home through a dog's eyes.
A fallen police officer's daughter gets a swarm of support. (Photos)