“Once. Only this year. Later on, that’s their problem”: Finance Minister. $3.4 billion in fuel was stolen in 2018, including by insiders. Crackdown now underway. By Don Quijones, Spain, UK, & Mexico, editor at WOLF STREET. After years of falling production, compounding …
With perfect timing as the new government embarks on restructuring Mexico’s oil industry. By Don Quijones, Spain, UK, & Mexico, editor at WOLF STREET. Mexico’s embattled oil giant Pemex has almost tripled its estimate of the potential reserves offered by Ixachi, a …
“Even a small deterioration” in its perceived credit risk could take a big financial toll on Mexico. By Don Quijones, Spain, UK, & Mexico, editor at WOLF STREET. Mexico’s President-elect, Andrés Manuel Lopez Obrador (AMLO), does not enter office until December 1, …
BY SRSROCCO The situation in Mexico’s oil industry continues to rapidly disintegrate as falling oil production and rising costs resulted in an $18 billion fourth-quarter loss for the state-run oil company, PEMEX. Part of the reason for the huge financial loss …