Mexico's state run Pemex has approved a post-reform corporate revamp- finalizing a corporate restructuring including the creation of new business units that will focus on fertilizers and ethylene, as per Reuters. The company's board of directors voted to maintain its money-making exploration and production division while it consolidates poorer performers focused on natural gas, refining and petrochemicals into a single entity that will be known as Industrial Transformation. The Mexican oil giant will also establish five businesses below the two overarching divisions that will launch next year and focus on drilling services, transport services including pipelines, electric cogeneration, fertilizers and ethylene.
19-Nov-14 
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