Mexico's Pemex delays $3.6bn in investments

GMT 18:25 2016 Monday ,29 February

Arab Today, arab today Mexico's Pemex delays $3.6bn in investments

Mexico economy
Mexico City - Arab Today

Mexico's struggling state-run energy firm Pemex unveiled on Monday plans to postpone $3.6 billion in investments as part of government-mandated budget cuts in the face of falling global crude prices.

Pemex director general Jose Antonio Gonzalez Anaya said the plan, part of a total of $5.5 billion in cuts, seeks to avoid a further drop in crude production.

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