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 […]
Tag: Pemex
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 […]
Mexico will stop exporting oil in 2023 and will allocate everything to domestic consumption
Petróleos Mexicanos (Pemex) will stop exporting crude in 2023 to use it all for domestic consumption, said Octavio Romero Oropeza, general director of the state oil company. “Practically 100% of Mexican crude will be refined in our country to guarantee the supply of fuels”Romero Oropeza announced. The director of Pemex presented a special report on […]
Pemex plans to export less crude to meet local demand
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 […]
Aid from AMLO to Pemex for US $ 20,000 million would not be enough
Mexico’s President Andrés Manuel López Obrador has done everything possible this year to assure investors that the aging state oil company will not only survive, but also prosper. This week, it announced a US $ 3.5 billion capital injection into Petróleos Mexicanos and plans to create a new five-year business plan and a series of […]
Deer Park refinery would cost Pemex an additional US $ 1 billion
Petróleos Mexicanos could end up paying around US $ 1.6 billion for Royal Dutch Shell Plc’s Deer Park refinery, which would be more than double the price announced in May, despite the fact that its finances are in such bad shape that the government decided inject billions of dollars into the state oil producer. Pemex, […]
Pemex will receive an injection of US $ 3.5 billion and will issue new bonds
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 […]
More US $ 9.2 million bribes from Odebrecht in Mexico revealed
An international investigation revealed this Wednesday that the Brazilian Odebrecht gave bribes in Mexico from 2006 to 2011 for US $ 9.2 million, an additional amount to which the Attorney General’s Office (FGR) is now investigating. The 25 illegal payments were delivered to seven officials, whose identity is secret, during the six-year terms of Vicente […]