Mexico - 07

Mexico: Pemex’s Eroding Autonomy

The terms of Pemex’s recent 73.5bn-peso ($4.2bn) bailout package from 13 April underscore the federal government’s willingness to continue propping the company up in the current oil price environment, but also the erode Pemex’s independence and the rule of law in the Mexican oil and gas sector. Notably, as part of the deal SHCP loosened the fiscal terms currently in place for Pemex so it can save up to 50bn pesos this year.

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