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The Houston Chronicle said Thursday that Chevron Corp. and Petroleos Mexicanos are close to reaching the first deal following Mexico’s reform of its energy laws.

“Ali Moshiri, Chevron’s president of Latin America and Africa, said that the company was in talks with Pemex over exploration opportunities in deepwater, shallow water or shale,” the report said.

“California-based Chevron is still waiting on the passage of a second energy reform bill in Mexico, which would hash out the tax structures for private companies entering the market and how Pemex would be involved in any new projects, before it begins picking its first sites in the country,” the Houston Chronicle said.

The second phase of the reform legislation could be enacted in June, the report said.