The Mexican government has approved a fiscal stimulus measure that could see Pemex raise oil production by as much as 400,000 bpd, S&P Global Platts reports , quoting the country‚Äôs Finance Minister, Carlos Urzua. The legislation concerns a credit agreement with a group of lenders including HSBC, JP Morgan, and Mizuho Securities. Under the new terms, the maturity of a loan of US$5.5 billion will be extended by two years and some US$2.5 billion in existing debt will be refinanced, the official said. The money will be used to boost oil production at ageing fields that are currently uneconomical to continue exploiting. To do this, the fields that the measure covers will be migrated from legacy assignment titles to production sharing agreements that were introduced by the previous Mexican government as part of a sweeping energy reform passed in 2014. Mexico has been struggling to reverse a steady decline […]