"Mexico's opposition conservative party proposed sweeping energy reform on Wednesday to change the constitution to allow more private investment and promote competition, while the ruling party is expected to present its own plans for an overhaul next week."

"Both parties favor market-friendly policies in Latin America's No. 2 economy and are expected to join forces to push through energy reform.

'Everything indicates that the (energy reform) initiative of President Pena Nieto will arrive next week,' said Senator Emilio Gamboa, leader of the ruling Institutional Revolutionary Party, or PRI, in the upper chamber of Congress."

David Alire Garcia and Adriana Barrera report for Reuters August 1, 2013. [2]