NAMI News

The latest trinational news.

Thursday, July 31, 2008

Mexico ponders how to boost faltering state oil company.

McClatchy, July 31, 2008 - “Pungent smoke billows from aging petrochemical plants here. Foul-smelling bluish water gathers in pools outside the walls. Fading paint announces the creaky Lazaro Cardenas refinery, a perfect metaphor for one of the world’s biggest and most antiquated state oil companies. Petroleos Mexicanos employs more than 147,000 people and has long operated as a state within a state, with its own hospitals, pensions and integrated business operations. But Pemex has historically overinvested in a bloated work force and underinvested in new or expanded refineries and sophisticated oil exploration and production. That’s evident in the rust, smog and environmental contamination here in the state of Veracruz and further east in the state of Tabasco.” Read more.

Posted by SiteAdmin | Permalink

NAMI publishes a monthly e-newsletter of trinational and organizational news. If you would like to keep up with NAMI, trinational issues and NAMI's exclusive events, click here to sign up today.