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Emilio Lozoya, the CEO of Petróleos Mexicanos (Mexican Petroleums—Pemex), announced Wednesday that some of the company’s deep water exploration projects would be put on hold due to the declining prices of crude oil.

This week's likely top stories: Haiti attempts to negotiate its way out of political deadlock; Cuba frees 53 political prisoners, holding up its end of the rapprochement deal with U.S.; Mexico cuts funding to PEMEX causing major oil sector layoffs; the U.S. Supreme court declines to review a challenge to Louisiana’s gay marriage ban; China and CELAC hammer out the details of increased economic partnership.

This week’s likely top stories: President Juan Manuel Santos announces new ministers; Venezuela and Colombia crack down on smuggling; Codelco’s CEO has new plans for Chuquicamata Mine; Bolivia deports an Argentine accused of crimes against humanity; a fire at a Pemex refinery kills at least four people.

Monday marked the conclusion of “Round Zero,” a yardstick in a process initiated as part of the Mexican energy reforms.

This month, Mexico’s Congress is debating the long-anticipated reform of Pemex, the country’s state-owned oil company.

Mexico's Enrique Peña Nieto is trying to push forward a controversial reform that will allow private-public partnerships for the first time in decades.

Mexican President Enrique Peña Nieto revealed a set of reforms to the country’s energy sector on Monday which would open Mexico's energy sector to foreign investors and allow private firms to access profit-sharing contracts with state-run oil monopoly Pemex.

Mexican President Enrique Peña Nieto’s plan to reform state-owned Petroléos Mexicanos (PEMEX) has attracted the attention of many analysts. Since President Lázaro Cárdenas nationalized the oil sector in 1938, no president has been able to push for reform to allow for foreign ownership of petroleum assets. 

Top stories this week are likely to include: Cubans re-elect President Raúl Castro in one-party elections; Argentine Foreign Minister Héctor Timerman travels to London; Paraguay investigates the death of Lino Oviedo; Argentina reacts to the IMF after being censured; Mexican authorities conclude rescue efforts after PEMEX explosion.

Brazilian government spokesperson announced yesterday that President Dilma Rousseff will visit Mexico in early 2013, likely in March, to build on “the very good impression” made by President Enrique Peña Nieto when the then-president elect visited Brasilia in September.