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Mexico OKs Pipeline to Future Arizona Refinery

From Reuters

Mexico has given an Arizona company permission to build and own a pipeline, expected to cost $650 million, that would carry Mexican crude oil to a planned refinery north of the border. It would be the first new U.S. refinery in nearly 30 years.

The move is unusual as Mexico’s constitution has banned foreign firms from upstream oil and gas activities since 1938.

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