Mexico's energy reform leads Pemex to restructure operations
11:54 AM MDT | August 22, 2014
PetrÃ³leos Mexicanos (Pemex; Mexico City), Mexico's national oil company, says that it has begun corporate restructuring in response to the recently announced energy reform, which ends Pemexâ€™s long-held monopoly. The company plans to keep its profitable exploration and production unit intact and consolidate poorer-performing businesses focused on natural gas, refining, and petrochemicals into a single unit, called industrial processing. Pemex will also establish three new subsidiaries and affiliates under the two businesses. One will offer drilling services to...
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