Exploration

Pemex production wilts as Mexican giant sees budget options narrowing

Pemex has reported its lowest rate of crude oil production for 40 years, and plans to delay payments to contractors may be falling apart

Faltering: Octavio Romero, chief executive of Mexico's state-owned oil company Pemex, watched over by Mexican President Andres Manuel Lopez Obrador
Faltering: Octavio Romero, chief executive of Mexico's state-owned oil company Pemex, watched over by Mexican President Andres Manuel Lopez ObradorPhoto: AFP/SCANPIX
  • Gareth Chetwynd
PemexOctavio RomeroFTI ConsultingMexicoSchlumberger
Published 25 August 2020, 19:05Updated 25 August 2020, 19:05