Mexico’s state oil monopoly Petróleos Mexicanos, or Pemex, is aiming to keep more than four-fifths of the country’s proven and probable oil and gas reserves for its own exploitation as the government prepares to open the state-run sector to private and foreign investment for the first time in 75 years. The energy overhaul passed last year by Congress amended the constitution to allow foreign and private companies to explore for and produce oil and gas under profit-sharing and even production-sharing agreements. It marks the first opening of the state-run industry since the 1938 oil expropriation. The changes, however, give Pemex the first choice of projects that it wishes to be assigned directly under a so-called “Round Zero.” The Energy Ministry said Monday that it has until Sept. 17 to decide which of the requested projects will be assigned directly to Pemex, taking into account the state company’s technical […]