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As Mexico welcomes oil giants, its colossus Pemex slowly erodes

Govt to auction deepwater blocks on Monday in bid to ramp up dwindling production

Pemex says its priority in the coming years is to be profitable, which will require slowing the accumulation of debt and improving midstream and downstream operations.


IN Mexico, the era of big oil is just getting started. But for the state oil dinosaur, its best days appear to be behind it.

The reign of Petroleos Mexicanos, the government-owned oil producer known as Pemex, is slowly being dismantled after a 2013 overhaul ended its...

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