“The Mexican Oil Industry:
Problems and Policy Options”
Shields, a journalist and energy industry
consultant, describes his research on the current
problems besetting Pemex, Mexico's national oil company.
Mexico — the
sixth biggest oil producing nation in the world and one of
the three main oil exporters to the United States — appears
to have reached a peak oil scenario in which oil output levels
are likely to decline sharply in the near term. Meanwhile,
the company, which enjoys monopoly status in the Mexican
market, is reaching a crisis point on many fronts, ranging
from major indebtedness to corporate governance to aging
infrastructure. A number of reform options are available
to the next Mexican president, but none of them are easy
fixes and all could be thwarted by a divided Congress.
Shields is a journalist and private consultant on energy
matters in Mexico. He is the editor of Energía a
and the author of PEMEX, Un Futuro Incierto (Pemex:
An Uncertain Future).
to a line representing an internal projection of future
production at the Cantarel oil field, Mexico's largest.
Pemex's more optimistic public projection is the line
to the right and above.