Floods, Fires and Funding Cuts: Mexican Refineries Face An Uphill Battle After Turbulent Year

It’s going to be a slow-turning ship for Pemex after a year riddled with disaster, investment slashes and more.

By Alexandra HartFebruary 5, 2018 11:03 am|

The Mexican state-owned oil company Pemex can’t catch a break. With wide-ranging woes like drug cartel fuel theft, to increased outside competition, Pemex is struggling to produce fuel and gain funding.

Matt Smith, director of commodity research for ClipperData, says the problems stem from a lack of investment.

What you’ll hear in this segment:

–What is going on with the Mexican oil industry

–Whether crude production is any better

–How reliant the U.S. is on Mexican crude, and how reliant Mexico is on the U.S.

–What Pemex doing to bounce back

Written by Elizabeth Ucles