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Pemex is facing difficulties over strategy in relation to the privatisation of its business. This could become an increasingly salient issue for the company as it tackles its complete lack of an ESG strategy. Potential investors simply will not want to negotiate Pemex with its $100bn debt pile.
Currently, the company is ranked very near to bottom in terms of how oil producers are scoring in relation to ESG risks, making it one of the worst performing companies on the globe.
While there might be a case for investing in oil, these ESG credentials provide a barrier to potential investors.
Read more at ft.com
