Mexican billionaire Carlos Slim has deepened his involvement in the country’s energy sector with a major investment in Petróleos Mexicanos (PEMEX), the state-owned oil company. Through his conglomerate Grupo Carso, Slim signed a US$1.99 billion contract to drill up to 32 wells in the Ixachi natural gas field, located in Veracruz. Slim’s investment also includes stakes in other PEMEX-linked projects such as the Zama offshore field, the Quesqui site, and the Lakach deepwater gas field. This strategic move aligns with President Claudia Sheinbaum’s energy roadmap, which encourages private investment to revitalize Mexico’s oil industry. Despite challenges like payment delays and aging infrastructure, Slim’s commitment signals confidence in PEMEX’s long-term viability and the potential of Mexico’s energy reserves.