View of the structures used to precess oil at Mexican state-owned petroleum company PEMEX refinery in Tula, Hidalgo state, Mexico  - 

One of the biggest business and policy stories of the decade is emerging from Mexico, where the Senate there has approved the centerpiece of a new plan for the country's oil industry. The decision ends the 75-year long monopoly held by the state-owned company Pemex. In other words, privatization is on the way. León Krauze, anchor and longtime correspondent for Univision News, has been looking into the radical change for one of Mexico's most powerful institutions.

Click the audio player above to hear León Krauze in conversation with Marketplace Morning Report host David Brancaccio.

Follow David Brancaccio at @DavidBrancaccio