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Mexico & Nafta - August 2007 (ISSN 1741-444X)
PETROLEOS MEXICANOS: Problems
The state-owned oil monopoly Petróleos Mexicanos, is having a difficult
time. Its managers and politicians had expected oil production to fall this
year, as the company's main field, Cantarell, runs down. What neither expected
was that the company would fail to meet its budget targets. In the first half of
2007 the company was 6.2% shy of the M$395bn in oil revenues it contributed in
the first half of 2006. The company claims that it will make up the difference
in the second half of 2007. The third problem is another scandal involving the
management of Pemex and the oilworkers' union.
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- FOREIGN POLICY: Looking south
- ECONOMY: Slowing down
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- BUSINESS FOCUS: Philip Morris takes out Slim
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- IMMIGRATION: Where next?