Mexico’s state-owned oil major is on pace to record its lowest annual production in three decades
Petroleos Mexicanos (Pemex) has transformed its energy policies and welcomed investments with open arms, but the progress is no match for the 53% drop in Mexico crude oil basket prices from one year ago.

Pemex posted a loss of 167.6 billion pesos, or $9.9 billion, in its Q3’15 earnings release. The difficult commodity environment was not the only factor – the peso has depreciated against the U.S. dollar by roughly 20% on a trailing twelve month...


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