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Pemex reform is top priority for Mexico's Peña Nieto

Tuesday, May 7, 2013

Mexico remains the third-largest source of foreign oil for the United States after Canada and Saudi Arabia. But the country’s easy-pump crude is quickly running dry, and the company lacks the technology and know-how to drill for the vast stores of tougher-to-reach deposits that are thought to exist beneath Mexico’s deserts and seas.

Fixing the company, Pemex, has become a top priority for Mexico’s new president, Enrique Peña Nieto.

Source: Washington Post