Mexico will eventually open its domestic oil production to foreign companies, Exxon Mobil CEO Rex Tillerson told a Dallas audience today. While the nationalization of Mexico's oil industry in 1938 is still celebrated there, Tillerson said that there is "growing recognition that change is needed" and outside producers should be allowed to help develop resources. "That will happen out if necessity" Tillerson said. Exxon's interest would depend on Mexico's "terms and conditions" of that participation, he said.
-- Jim Fuquay