Venezuela wants Mexico energy alliance

CARACAS, Venezuela, April 10 (UPI) -- Venezuelan leaders said Thursday they would like state-energy firm PDVSA to work with its Mexican counterpart PEMEX on joint oil and gas projects.

Venezuelan President Hugo Chavez said he hoped the two firms could work out an agreement in the near future, Globovision TV reported Thursday.

However, Mexican officials would have to vote for reforms to the country's constitution to permit foreign investment in PEMEX -- a move many Mexicans have opposed amid concerns that the involvement of outside firms would reduce profits in the long run.

PEMEX profits accounts for a large portion of the federal budget in Mexico.