All tagged AMLO

Mexico’s Pemex: An ailing giant, but still a giant

Mexico’s Pemex: An ailing giant, but still a giant

Scott McKnight
Analysis

Pemex reported a mind-boggling $23 billion loss for the first quarter of 2020, cementing its position as the world’s most indebted company. While the coronavirus-induced oil price collapse is partly to blame, Pemex has been a troubled company for a long time, but understanding it purely through a profit-driven lens misses much of what the company does in Mexico’s political economy

Can AMLO save Pemex? That’s not really the question

Can AMLO save Pemex? That’s not really the question

Scott McKnight

Mexico’s president-elect has sent mixed signals on what he wants to do with the energy reforms of 2013-14: respect the opening and continue to let much-needed private investment in, or stifle the reforms in hopes of resurrecting Pemex to its former glory. But it’s Pemex—overstaffed, underfunded, and woefully uncompetitive—that is the real obstacle to improving Mexico’s oil industry.