Mexico Will Keep Oil State-Owned, President Calderon Says
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Mexico will keep its oil industry state-owned as government-held oil company Petroleos Mexicanos successfully stemmed output declines in aging fields, Mexican President Felipe Calderon said.
Pemex will invest about 300 billion pesos ($23.7 billion) this year and has stemmed declines at its flagship Cantarell field, Calderon told workers in Coatzacoalcos, Mexico, during a ceremony to commemorate the 74th anniversary of the nation’s expropriation of foreign oil assets.