Supply Chain Research

Mexico’s state-owned oil company, Pemex, will receive support from the Mexican government to alleviate its financial stress. Pemex’s troubles may be partly tied to reduced export revenues, with Panjiva’s data showing the firm’s crude oil export revenues fell 8.0% year over year in the 12 months to July 31. At the same time Pemex’s imports of refined oil may have fallen 18.2% to $26.2 billion, led by a 25.9% drop in imports of distillates and kerosene. Given most of Pemex’s refined products come from the U.S. there may be a geopolitical as well as economic aspect to further import cutback...