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SPOTLIGHT

1. OFFSHORE DRILLING

U.S.-Mexico agreement to open new sources of oil and gas

The Obama administration today announced an agreement with Mexico that could make significant deposits of offshore oil and gas available for exploration by U.S. firms. The transboundary agreement signed this morning in Los Cabos, Mexico, creates a framework for U.S. offshore drilling companies and Mexico's Petróleos Mexicanos, or Pemex, to jointly develop reservoirs along the countries' maritime boundary in the Gulf of Mexico, officials said.

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