Mexico’s President Andres Manuel Lopez Obrador waves as he arrives for the swearing-in ceremony for Mayor-elect Claudia Sheinbaum, in Mexico City, Wednesday, Dec. 5, 2018. Pemex is producing less than 1.8 billion barrels a day of crude, putting Mexico on track for its 14th consecutive year of declines in oil output. President Lazaro Cardenas nationalized the industry in 1938, kicking out 17 foreign oil companies that Mexicans believed to be looting the country’s wealth. But Mexico’s constitution was amended in 2013 to allow greater private investment in oil and gas. She said the refinery overhaul should enable Pemex to meet 70 percent of Mexico’s gasoline needs.

Source: Washington Post December 09, 2018 21:33 UTC