The board of state-led Pemex has approved a business plan for 2019-2023 that includes government support measures for the Mexican oil company as it invests in a new refinery in addition to shallow-water and onshore projects, but a presentation this week was short on details about how that would be achieved.
Mexican President Andres Manuel Lopez Obrador, who has pushed a nationalistic approach to energy policy in Mexico and been sceptical of private involvement, said during a press conference that the plan would see Pemex receive government support via tax relief for the first three years of the six-year term.
