MEXICO: Serving the Nation

Among the wild banana trees in the hills of Veracruz state, oil crews last week spudded in the second well of the richest Mexican oil strike in more than 20 years. Near by, the discovery well, which gushed 19,000 bbl. a day until it was choked down, was producing 1,200 bbl. a day for the government-run oil company Pemex (Petroleos Mexicanos). Capping a series of earlier achievements, the new field signified that Pemex, after the years of fumbling that followed its formation in 1938 from expropriated U.S. and British oil companies, had...

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