Mexico Moves to Strengthen State Control Over Pemex ...Middle East

Mexico’s new parliament late last night passed a bill that would give the president more control over state oil company Pemex and the country’s power utility, CFE. The aim of the bill, per a Bloomberg report on the news, is to make those state entities prioritize social and economic objectives over corporate profits. To that end, the bill proposed that both Pemex and CFE be reclassified from “state productive companies” to “public companies”, the report said. After the new law comes into effect, CFE will control…

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