Mexico’s state-owned oil firm, Pemex, is finally showing signs that it is turning a corner and it is starting to adjust to life under the 2013-2014 energy sector reform. The reform ended Pemex’s 75-year monopoly on oil production in Mexico and the government has been clear that the firm would have to become more efficient in order to be competitive in a more liberalised sector. To achieve this the government ordered Pemex to conduct a full reorganisation and cost-cutting exercise in 2015-2016. This has been painful but Pemex’s latest financial reports show that it is starting to produce results, as the firm looks to take advantage of the opportunities available to it under the energy reform. End of preview - This article contains approximately 753 words.
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