Mexico works on rebuilding its crude oil output ///

Concerned about lagging crude oil production, Mexico is increasing its capital expenditures over the next several years to stabilize output and then grow it. Last year, Pemex spent $19.1 billion on capital projects, of which more than 80% was spent on upstream work. This year, the firm will raise capital spending 21.5% to $23.2 billion, of which 85%, or $19.7 billion, will be dedicated to E&P projects.

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