Mexico’s Pemex is reviving 400 onshore wells to boost crude output toward a 1.8 million bpd target. Private firms will fund operations and maintenance, aiming to restore 13,000 bpd by year-end with a $1.5 billion investment. Pemex faces debt and production challenges, prompting more public-private partnerships.

Refining and export issues plague Pemex, with underperforming refineries and critical unit overhauls in Texas. A Strategic Plan aims to strengthen energy sovereignty and reposition finances. Success hinges on overcoming legal hurdles, securing capital, and verifying field performance in a high-risk environment.

The next year will determine Pemex’s fate as it navigates leaner operations and strategic partnerships. Will Mexico’s energy ambitions be realized, or will state creditor constraints continue to hinder progress? Oilprice Intelligence provides expert analysis for informed decision-making. Join 400,000+ readers for exclusive insights on market trends.

Read more at Yahoo Finance: Pemex Bets on Private Sector to Revive 400 Wells