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: Pemex
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 […]
Moody’s envisions more financial support from the Mexican government to state-owned Pemex
The weak liquidity position of the Mexican oil company Pemex predicts an increase in government support for the state-owned firm in the next 12 to 24 months, the credit rating agency said on Thursday Moody’s. Pemex this week placed US$2 billion in a bond issue on the international market that it will use to refinance […]
S&P believes that the Mexican government will provide timely and sufficient support to the Pemex oil company
The rating agency S&P Global Ratings said in a statement on Wednesday that it expects an “almost certain” probability that the Mexican government will provide extraordinary, timely and sufficient support to the state oil company. Pemex in case of difficulties. On Tuesday, the oil company placed US$2 billion in a 10-year bond issue in the […]
Government of Mexico will support Pemex to pay its debt in 2023
The Mexican president, Andrés Manuel López Obrador, affirmed this Friday that his government will support Petróleos Mexicanos (Pemex), considered the most indebted oil company in the world, to cover the US$ 10,000 million in bonds that it must pay this year. “Yes, we have been supporting Pemex, we will continue to do so because it […]
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 […]