23:48 GMT +317 October 2017
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    Mexican President Enrique Pena Nieto

    Mexico Plans to Provide New Job Opportunities for Oil Industry Workers

    © AFP 2017/ ALFREDO ESTRELLA
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    Mexican President Enrique Pena Nieto has ordered to work out a series of measures to support people working in the oil industry, which has been hard-hit by the fall in oil prices.

    MEXICO CITY (Sputnik) – At the beginning of his term, oil exports were responsible for 40 percent of Mexico’s budget, since then the figure has gone down to 8 percent, Nieto said during a Thursday visit to the state of Tabasco.

    According to Nieto, oil industry workers need to be provided with new job opportunities that are going to be created in such oil producing states as Tabasco and Campeche. Oil and gas production in Campeche accounts for over 35 percent of Mexico’s total.

    In December, Mexican authorities announced that Mexico oil revenues decreased by 38 percent in the last 10 months compared to the same period in 2014.

    In mid-January market prices for crude benchmarks dropped to a 12-year low, sliding below the historic level of $30 a barrel.

    Related:

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    Mexico to Invest $23Bln Into Oil Refineries - President
    Mexico Oil Revenue Drops Almost 40% in 10 Months – Finance Ministry
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    Oil, jobs, Enrique Pena Nieto, Mexico
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