State oil companies take first ungainly steps toward climate neutrality

Petroleos Mexicanos left investors with more questions than answers after it announced in late July that it would be disclosing its greenhouse gas emissions on a more regular basis — then refused to discuss why they’d soared by double-digits from April to June, compared to a year ago.

The moment was awkward to say the least, but analysts also welcomed it as a first wobbly step in a segment of the fossil fuel industry that’s still refining its green marketing strategy.