S'ince 1938, Mexico's state-owned oil giant Petroleros Mexicanos (Pemex) has retained close to complete control over the country's sizeable crude reserves. National ownership of Mexico's oil reserves is considered a sacrosanct political and historical achievement, and Mexicans view Pemex as a powerful symbol of the country's economic and political independence despite being in the shadow of the world's greatest superpower. Over the past few years, however, sharp drops in production at the large Cantarell Field have prompted the government to try to thwart the decline through a recently legislated energy reform. This report looks at the energy sector as it attempts to redesign its hydrocarbon paradigm and face up to some significant challenges.
展开▼
