Pemex Plans Billions in Environmental Repairs
From Times Wire Reports
Mexico’s state-owned oil monopoly Petroleos Mexicanos, or Pemex, said it expects to spend $3 billion to fix environmental problems at its facilities after a series of accidents in the last year ranging from small leaks to explosions.
The government has agreed to give the oil company an additional $500 million this year for repairs.
The company has identified more than 900 miles of pipeline, much of which is more than 30 years old, that need to be monitored more carefully.
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