Big Oil Shuns Mexico as Pemex’s Struggles Continue

Mexico’s state oil giant Pemex is struggling to reverse a years-long decline in oil and gas production while trying not to incur additional liabilities on top of its already massive pile of $100 billion debt that makes it the world’s most indebted energy firm.   Petroleos Mexicanos, as Pemex is officially known, has received major government support this year under Mexico’s President Claudia Sheinbaum. Unlike her predecessor and mentor, Andrés Manuel López Obrador, incumbent President Sheinbaum has signaled…