Mexico Bets on Two Major Shale Plays to Break Free from Debt Spiral

Mexico is betting on ‘complex geology’ development to reverse the fortunes of its state-owned oil and gas giant Pemex, which has been struggling with declining production and enormous debts in recent years. A return to unconventional exploration could be a boon to the Mexican firm’s production and profits and to the state’s finances.   New Mexican president Claudia Sheinbaum is open to shale resource development, unlike her predecessor Andrés Manuel López Obrador, who had cancelled previous contracts and…