Petróleos Mexicanos, or Pemex, is Mexico’s sole producer of crude oil, natural gas and refined products. The company provides Mexico with one-third of government income and was the ninth largest oil producer in the world in 2012. The oil and gas industry in Mexico has been nationalized since 1938, but production has declined every year since 2004 (24% overall).

However, Mexico’s President Enrique Peña Nieto and the government privatized the industry in December 2013 in an effort to revive Mexico’s deteriorating energy environment.

Mexico will...

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