Mexico Is Quietly Pushing Out Foreign Oil Investors

For nearly 80 years, Mexico kept its borders closed to foreign oil interests, with the state-owned and -run Petroleos Mexicanos (Pemex) being the only entity allowed to drill for gas in Mexican territory. In 2017, then-president Enrique Peña Nieto opened up Mexico’s considerable oil reserves to foreign oil companies and investors for the first time in nearly a century, but the long ailing Pemex has shown few signs of improvements thanks to the injections of foreign cash in recent years.  The last time foreign interests were permitted…