Economy / Mexico
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Significant Energy Reforms Needed But Unlikely
July 2008 | Data ReleaseSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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On July 21, Pemex announced a slight m-o-m increase in crude oil production for June, up 1.5% on May's figures. However, y-o-y production continued to show negative growth, down 11.4% from June 2007, and according to Mexico's energy ministry, low production levels and near-record prices are costing Mexico US$20bn a year in lost revenue.