Economic Ratings: Even With Reforms, Improvements Long Way Off

July 2008 | Ratings Update

With July 22 confirmed as the date for Mexican political parties to start negotiations on proposed oil reforms, both government and senior Pemex officials are ramping up their arguments in favour of the reforms. On July 1 Pemex CEO Jesús Reyes Heroles stated that without passage of the bill, oil production would fall by 1.2mn barrels a day by 2015, and Mexican Finance Minister, Agustín Cartens, went further claiming that reforms which emerge from the debate will not be far-reaching enough to turn around declining production levels.

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