Mexican Energy Department says Pemex needs outside help

03/31/2008 | Associated Press, The

Mexico's Energy Department on Sunday called for state-owned Pemex to seek outside help to increase production, especially in the Gulf of Mexico, where changing pressure conditions put it at risk of losing yield. With a 2007 net loss of $1.48 billion in 2007, Pemex has become a political hot button in Mexico because government rules prohibit most private-company involvement in the state-run oil business.

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Associated Press, The

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