Mexico’s state oil giant is suspending contracts with service providers and suppliers, triggering thousands of job losses, people with direct knowledge of the situation said.
Over the past several weeks, Pemex has suspended contracts with at least eight local and international oil-service providers and suppliers to cut spending, said the people, who asked not to be named because they weren’t authorized to speak publicly on the matter. The bulk of cancellations is for offshore maintenance work in shallow-water hubs such as Ciudad del Carmen in the state of Campeche, two of the people said.
Brazil Energy Insight 
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