The Mexican Pemex has returned to doing business with Vitol, three sources with direct knowledge of the matter told Reuters, almost three years after the oil The state government banned dealings with the world’s largest independent energy trader over a corruption scandal. The ban was made after Vitol publicly acknowledged in December 2020, in an […]
Tag: Pemex
The Biden government advances in an escalation of the dispute with Mexico over energy
The US President’s Government Joe Biden has asked US energy companies to prepare affidavits documenting how the protectionist policies of Mexico made their investments more difficult as Washington prepares to escalate a trade dispute with its neighbor, according to three people familiar with the discussions. The request for affidavits from major US oil and renewable […]
López Obrador: Fitch and Moody’s ratings on Pemex are “a mockery”
The president of Mexico, Andres Manuel Lopez Obradorassured this Monday that the opinion of Fitch and Moody’s, which worsened the credit rating of Mexican oil (Pemex), is “a mockery” by denying that this affects the parastatal. “It’s a joke, all this from the rating agencies, however, there are still those remnants, all that information that […]
Mexican Pemex, “punished” by the markets, seeks options to pay heavy debt
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 […]
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 […]