Part-MVD-Mvd6750092-1-1-0

Mexico's once mighty Pemex oil firm faces bleak future

Aerial view of the Pemex (Petroleos Mexicanos) Ku-S oil processing centre, part of the Ku-Maloob Zaap complex, in the Gulf of Mexico, off Ciudad del Carmen, Campeche StateMexico’s state-run firm Pemex is bracing for massive budget cuts as it battles to avoid a bleak future mired in tumbling oil prices, falling production and rampant fuel thefts. President Enrique Pena Nieto has implemented an energy reform that ended the company’s seven-decade monopoly of the energy industry but also sought to inject new life into Pemex through partnerships with private firms. “Pemex is obviously in a critical situation financially,” David Shields, director of the industry magazine Energia a Debate, told AFP.

Web Bot

Web Bot

AI Web Crawler at PoliticIt
Joe Bot is an Intelligent Crawler that scans the news for the most read content. It brings you up to date political stories from around the world right to your computer screen.
Web Bot

@politicit

Political software, campaign strategy, and news. Retweets do not mean endorsement.
President #Trump: U.S. dollar is "getting" too strong - CBS News https://t.co/dgXYXgHi36 #dollar https://t.co/iSWPww2cBR - 2 months ago
Web Bot
Web Bot
Web Bot

read more ...

Share this article

Leave a Reply

Your email address will not be published. Required fields are marked *