Mexico’s Pemex Is Losing Market Share To Private Companies

Mexico’s state energy major Pemex has lost some 13 percent of its share of the local fuel market to private companies despite efforts by the government to strengthen the troubled company. The 31-percent market share loss has built since Andres Manuel Lopez Obrador’s government came into power, Bloomberg reports. During the previous administration’s term, with a host of energy reforms including a liberalization of the energy market, Pemex had lost a market share of just 3.5 percent to private fuel retailers. It was these reforms…