The Mexican government will give a $5.2 billion stimulus package to state-owned oil company Pemex, President Andres Manuel Lopez Obrador said Friday. "Pemex has the whole backing from the Finance Secretariat and the Mexican government," Lopez Obrador said in a webcast press conference. In recent years, Pemex borrowed to finance operations until becoming the world's most indebted oil operator with $104 billion in net debt, half of which is due through Lopez Obrador's presidential term, which ends in 2024. Despite this debt leverage, Pemex's production fell to 1.71 million b/d in December from a peak production ... (full story)