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Oil price drop strains Pemex revenues in Mexico
Pemex, key to 40 percent of Mexico's budget, faces lower crude prices dropping from over 16 to below 10 per barrel. The government eyes possible budget cuts, risking social programs and party support ahead of 14 state elections. Zedillo defends Pemex as untouchable while privatization debates linger. The 60th anniversary ceremony in Tabasco highlighted the oil sector's symbolic role in national identity.
MENTIONED IN THIS ARTICLE
Villahermosa
Mexico
Pemex
Petroleos Mexicanos
Ernesto Zedillo
Institutional Revolutionary Party
Nuevo Pemex Gas
Gaccenive
Tabasco
Petroleum Workers Union
Zedillo
Oil Workers of
Lazaro Cardenas
United States
George Grayson
The
College
William and Mary
Virginia
Petrochemical
Republic