Mexico’s government is doing all it can to boost the fortunes of troubled state oil and gas giant Petróleos Mexicanos (Pemex), with the Finance Ministry again reducing the firm’s profit-sharing duty and injecting $3.5 billion to reduce debt.


“Pemex is strategically important for the country, not only in its function as a provider of goods and services, but also for its relative importance in regional economic activity and the generation of employment in the southeast of the country,” the Finance Ministry stated. It is of “vital importance” to maintain the company’s profitability and ensure its sustainability in the long run.

Pemex has struggled to turn a profit for numerous years and is one of the most indebted oil companies in the world. Despite the high oil and...