Mexico's Pemex plans to expand deepwater exploration and attract outside investment to increase oil and gas reserves under President Sheinbaum.

Mexico's state oil company, Pemex, intends to increase oil and gas reserves under new President Claudia Sheinbaum, as reported by Reuters. The company plans to enhance deepwater exploration and develop new business models to attract outside investment, reversing former President López Obrador's focus on quick-production projects. Pemex's crude output has fallen below 1.5 million barrels per day, its lowest in over 40 years, down from a peak of 3.4 million barrels two decades ago.

October 24, 2024
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