VOICED : Pemex anuncia perdidas millonarias

Pemex announced significant financial losses as Mexico progresses with a controversial energy reform to open the oil sector to private investment. The losses, amounting to $2.685 billion, are attributed to falling oil prices and increased taxes. Pemex, a major contributor to Mexico's public revenue, has seen declining crude production since 2004. In response, the government led by Enrique Peña Nieto initiated a constitutional reform to modernize Pemex and introduce competition. This reform allows private companies to explore and extract hydrocarbons for the first time in 75 years, sparking opposition from the Mexican left and intellectuals who fear privatization, despite government assurances of state ownership.

What were the main reasons for Pemex's financial losses in the first quarter?

• Decrease in public revenue

• Expansion of private sector involvement

• Drop in oil prices and higher taxes

• Increase in oil production

What percentage of Mexico's public revenue is contributed by Pemex?

• Exactly a third

• More than a third

• Less than a quarter

• More than half

What significant change did the energy reform introduce for the first time in 75 years?

• Allowing private companies to explore and extract oil

• Privatization of Pemex

• Nationalization of the oil sector

• Increase in oil production quotas

Who opposed the energy reform, fearing it might lead to privatization?

• Pemex executives

• The Mexican left and intellectuals

• International oil companies

• The Mexican government

What assurance did the government provide regarding the energy reform?

• The reform will increase oil prices

• Taxes on oil will be reduced

• The state will retain ownership of oil resources

• Pemex will be privatized