Pemex business plan rebuked by IMF

The 2019-2023 business plan of Mexican national oil company Pemex presents an unrealistic picture of production growth and reserves replenishment over the coming years, according to a new report by the International Monetary Fund.

“Current plans focus on areas where the company has had better success rates in the past,” the IMF said in the full report on its 2019 Article IV mission to Mexico, Natural Gas Intelligence reports.