Poll reveals Mexicans oppose foreign investment in Pemex

Mar 06, 2008 01:00 AM

Nearly two-thirds of Mexicans oppose foreign investment in state-owned oil company Pemex, according to a poll, although less than half object to a similar role for private Mexican firms.
Some 61 % of respondents polled by Reforma newspaper said they oppose foreign involvement in the nation's oil industry. But just 46 % said they oppose private Mexican investment in Pemex.

The poll of 1,515 people reportedly had a margin of error of 2.5 percentage points.
When asked what they want for Pemex, which is facing potential cash shortages as existing reserves decline, 43 % said the company should remain in government hands and refuse all private investment, while 37 % said some private capital should be allowed -- but only under state control.

Private firms are now limited to performing subcontracting work for Pemex and are banned from participating in equity, concessions or joint projects.
Oil supply at the country's largest field, Cantarell, discovered in the 1970s, is running out, and analysts say Mexico needs help from private companies to explore deep-water fields in the Gulf of Mexico.

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