Indebted Pemex Sets Long-Awaited Carbon Dioxide Reduction Goals

Mexican state-owned oil company Pemex said it increased its carbon dioxide reduction targets through 2027, in an effort to meet the government’s emissions goals through the end of the decade.

Greenhouse gas emissions from the oil and energy sector must decrease 14% by 2030 in order to fulfill Mexico’s aspirations, the company said in a presentation posted Thursday.

Improving its environmental track record is among the many challenges facing Pemex, the world’s most indebted oil company. Although President Andres Manuel Lopez Obrador has increased the financial support for the company, its output has plummeted by nearly half over the past ...