Mexican state-run oil giant Petroleos Mexicanos will focus on existing shallow water assets and refining next year at the expense of riskier, deepwater projects under a new government that has vowed to turn around the ailing company. The 2019 budget blueprint presented on Saturday by officials of leftist President Andres Manuel Lopez Obrador calls for some $23 billion (465 billion pesos) in discretionary spending for the company known as Pemex, up about 14 percent from this year. Almost half the Pemex budget is earmarked for exploration […]