An evaluation of Mexico's declining oil production and waning petroleum reserves
Velazques, Arturo Sotomayor
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rather than invested in exploration projects, infrastructure modernization, or process efficiency improvement. Decades of severe financial constraints placed on Pemex by the Mexican government, coupled with a weak corporate culture, have left Pemex unable to deal effectively with the oil production crisis at hand. This thesis examines the factors that explain why Mexican oil production has dwindled, despite the government's tremendous economic and political incentives to preserve revenues generated by oil rents.
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