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Higher Oil Prices Let Mexico Pull Back Billions in Pemex Support

Mexico’s government is slashing financial assistance for the state energy major by as much as 70% despite Pemex’s continued struggle to pay down debt and boost production.

  • Mexico cuts Pemex aid by up to 70% despite oil price surge
  • Pemex anticipates $5.63 billion surplus due to higher oil prices
  • Scheinbaum administration reduces Pemex budget by 70% for next year

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