The indebted Mexican oil company Pemex is analyzing how to face its heavy amortizations, especially concentrated in 2023 and 2024, trying to avoid going out to the capital markets, which according to its general director, have punished the state company despite having improved figures compared to previous efforts. With a financial debt that closed 2022 […]
Tag: Mexican oil
Pemex reviews ESG, security to attract bank financing
Mexican oil will reformulate its environmental and safety procedures, and anticipates implementation in the second half of the year. The initiative seeks to attract much-needed financing amid mounting debt at Mexico’s state oil company, according to people familiar with the project. The plan, which aims to improve Pemex’s environmental, social and corporate governance (ESG) record, […]
Pemex earns US$ 1,187 million in 2022 and breaks nine years of losses
The state company Petróleos Mexicanos (Pemex) reported this Monday a net profit of 23,049 million pesos (US$ 1,187 million) in all of 2022, a positive result that breaks nine consecutive years of losses. When presenting his financial report, the general director of the Mexican state oil company, Octavio Romero Oropeza, affirmed that the firm benefited […]
Pemex: What place does the company occupy in world oil production?
Mexican oil (Pemex) is a state-owned company that produces, transports, refines and markets oil and natural gas. Likewise, it represents a key support in the Mexican economy, since it produces and supplies primary energy and strategic goods, concentrating the factors of production and services in a single entity. In this sense, it has an individual […]
Pemex: What role does it play in the Mexican economy and what are the products it sells?
Mexican oil (Pemex) is a state-owned company that produces, transports, refines and markets oil and natural gas. Likewise, it represents a key support in the Mexican economy, since it produces and supplies primary energy and strategic goods, concentrating the factors of production and services in a single entity. In this sense, it has an individual […]
Pemex bonds fall after new issuance plan sends panic on Wall Street
On Wednesday, the state company’s dollar debt was the worst performer in high-yield markets, while bonds due 2041 fell as much as 2.3 cents to 70.63 cents, according to Trace data. The pullback came after traders considered Pemex’s plan to sell at least $2 billion in new debt, a sum intended to help the company […]
Pemex evaluates debt payment alternatives with the Treasury
Mexican oil weighs debt payment options with the finance ministry as the company struggles to turn high oil prices into profit amid weak production and a focus on refining rather than exporting its crude. The general director of Pemex, Octavio Romero Oropeza, said that since the last quarter of 2022 he has been in talks […]
Pemex plans to export less crude to meet local demand
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Updated on 12/11/2021 04:11 am Petróleos Mexicanos is planning to reduce its oil exports next year while boosting national fuel production to supply an economy that is recovering from the pandemic. Pemex refineries in Mexico, which have been operating at less than 50% capacity for seven consecutive months, plan to process an additional 200,000 to […]
Pemex will receive an injection of US $ 3.5 billion and will issue new bonds
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Petróleos Mexicanos, the world’s most indebted oil company, will receive a US $ 3.5 billion injection of capital from the government to pay off growing debt and help reverse the long-term falls in oil production. The Mexican state company will receive the funds as part of a liability management operation that includes the issuance of […]