Mexico's Congress has approved a comprehensive energy reform.
The oil and gas sector is said to have been dominated by the state for more than seven decades.
Raul Cer'vantes Andrade is Mexico's Senate president.
"It has been approved in general and specific terms the decree to reform, add and abrogate several dispositions of the federal budget law and the public debt law. We transfer to the executive authorities related to article 72 of the Constitution."
The package of laws will dramatically expand the role of foreign and private companies in the country's oil and gas industry.
The reform aims to bring billions of dollars in new investment and boost the country's oil production.
