More than a year after Mexico rewrote laws to give oil giant Petroleos Mexicanos the financial independence needed to compete with global peers like Exxon Mobil Corp., things aren’t looking good for the state-owned driller.
With crude near a six-year low, output dropping and Moody’s Investors Service warning that it’s considering a cut to Pemex’scredit rating, investors are demanding a widening premium to own the company’s bonds instead of government notes. The extra yield they demand to hold the dollar debt from Pemex is at a six-month high of 1.1 percentage points.
Brazil Energy Insight 
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