Mexico could further ease the fiscal burden on its state oil firm Pemex, the world’s most indebted oil company, as the government looks to stop years of production declines. “With Pemex, for example, we are constantly or periodically lowering taxes so they have more funds,” Mexican President Andrés Manuel López Obrador said at his regular briefing on Monday, as carried by Bloomberg . “And we can lower them more,” López Obrador added. Since leftist populist president López Obrador took office at the end of 2018, the government has continuously supported the state oil firm by lowering its tax burden and favoring Pemex and other state energy companies over the private sector and foreign companies. López Obrador came to power with the promise to increase state support for Pemex and make the state-run major the pillar of a turnaround for the country’s declining oil production. Pemex continues to be the […]