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Pemex chief says oil-worker pensions are a headache

Wednesday, April 17, 2013

Oil worker pensions are a major burden for Mexico's state oil company Pemex and must be reined in, the company's chief executive said on Tuesday.

Pemex CEO Emilio Lozoya said the company was in negotiations with the country's powerful oil workers' union to overhaul the generous pension scheme.

Such reform is likely to serve as part of a wider overhaul of the state oil monopoly due this year.

Source: Reuters