Unfixable Pemex. Whatever reforms the government announces, they will stop a long way short of privatising Pemex. It is so wrapped up in a myth of national sovereignty that even the energy minister, a champion of reform, insists that not a “single screw” will be sold. Reformists hope the government will at least let private firms work with Pemex to develop shale, deep-water and other challenging fields. But even this would require constitutional changes, and would face much resistance. Since Mexico has no significant private-sector oil industry, much of the investment would have to come from foreign firms, and for nationalists this would be hard to stomach. economist/news/business/21583253-even-if-government-plucks-up-courage-reform-it-pemex-will-be-hard-fix-unfixable?fsrc=scn%2Ftw_ec%2Funfixable_pemex
Posted on: Fri, 09 Aug 2013 23:35:54 +0000
Trending Topics
Recently Viewed Topics
© 2015