Pemex Needs Nearly $110 Billion to Hit Mexico's Output Targets

Mexico is dependent on oil and gas imports for two-thirds of its energy consumption, despite the fact that the country has abundant domestic fossil fuel resources. But instead of exploiting its own producing power to the greatest potential, Mexico relies on its neighbor to the north for the majority of its energy needs, leaving it in a vulnerable position. However, the answer to Mexico’s energy insecurity is not building up more domestic oil and gas production and refining capacity, according to a recent assessment from the International…