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Once providing half of Mexico’s revenue, the debt-laden state oil firm has been in decline for years. But government efforts to revive it in pursuit of energy self-sufficiency is stalling the drive for renewables
The president-elect’s plans to expand fossil fuels could be helped by the country’s growing hunger for electricity.
Politics may delay the transition to clean energy, but economic forces are making it unstoppable.
All aspects of the oil business have come under the growing influence of the Guards, from the "shadow fleet" of tankers that secretively ship sanctioned crude, to logistics and the front companies selling the oil, mostly to China.
Saudi Arabia Is Losing Its Iron Grip on Global Oil Markets
China’s demand for oil, long an important driver of global oil demand growth, slowed dramatically during January–September 2024. Between 2000 and 2023, China accounted for 50 percent of...