What is pemex and how does it effect the Mexican economy?

What is pemex and how does it effect the Mexican economy?
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Pemex stands for "PEtroleos MEXicanos"; it is the most importantoil company in Mexico, and for several decades it was owned andoperated by the Mexican government. Its revenues also contributed alarge percentage of the Mexican Federal Budget, but after decliningproduction and oil prices, parts of it are becoming more and moreoutsourced to the point that during the current generation, it maydisappear altogether.
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