The Void of Governance: An Assessment of Pemex's Performance and Strategy
Program on Energy and Sustainable Development Working Paper #73
April 13, 2008
Mexico's Petróleos Mexicanos, or Pemex, is the world's third-ranked company by oil production. Almost 40% of the Mexican government budget is derived from Pemex revenues, leaving the country highly exposed to a drop in oil prices and the company itself strapped for cash to support much-needed investment.