RESTRUCTURING PROPOSED FOR MEXICO'S PEMEX

Mexican President Carlos Salinas de Gortari soon will send a legislative proposal to Congress that splits state owned Petroleos Mexicanos into four subsidiaries. Pemex functions will be divided into Pemex Exploration & Production, Pemex Refining, Pemex Gas & Basic Petrochemicals, and Pemex Secondary Chemicals. An earlier report said the company would be split into seven units (OGJ, June 15, Newsletter). Each of the four new operating companies will be an independent business unit with a

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