The goal is for private oil-sector competition for the first time in 75 years to pave the way for new jobs and trim steep energy prices that have stymied growth in Mexico’s economy, Emilio Lozoya Austin said his first major US public address since his country voted in December to end Pemex’s monopoly.
Indeed Pemex estimates that Mexico’s oil resources will demand spending of close to $1 trillion over the next decade to develop reserves and reverse declining production, he told an audience of hundreds during a dinner at IHS Cera Week in Houston.
“Pemex
