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). In an effort to revitalize the deteriorating environment, the government elected to privatize its industry in December 2013 and plans on conducting its first bidding round for outside in...


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