Mexican state oil company Petroleos Mexicanos (Pemex) and its union, the STPRM, agreed to a 4% pay raise and a 2.25% increase in benefits during 2022-2023 salary negotiations, Pemex said in a statement on Thursday.
The agreement is the first made under union leader Ricardo Aldana, a longtime veteran of the company who won by a landslide at the beginning of the year.
Aldana is a close ally of former leader Romero Deschamps, who stepped down in 2019 amid allegations of corruption.
The wage hike announced Thursday is slightly above last year's raise of 3.4%, though still far below Mexico's annual inflation rate, which hit 8.15% in the year through July.
(Reuters - Reporting by Daina Beth Solomon and Adriana Barrera; Additional reporting by Aida Pelaez-Fernandez; Editing by Leslie Adler)