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Challenges Ahead: Pemex’s Declining Oil Production
As 2024 approaches, Petróleos Mexicanos (Pemex), led by CEO Octavio Romero Oropeza, braces for a downturn in oil production, an issue pressing both economically...
Pemex Hits Historic Low in Oil Exports
Petróleos Mexicanos (Pemex), Mexico's state-run oil giant, dramatically reduced its crude exports to unprecedented levels.
This strategic shift supports the government's plan to refine more...
Pemex Profits Plummet 92% in Early 2024
In the first quarter of 2024, Petróleos Mexicanos (Pemex) experienced a significant financial downturn.
Profits plummeted by 91.7%, falling from MXN 56.735 billion ($3.40 billion)...
Challenges for Mexico’s Economy: Pemex and Droughts
Mexico's economy might grow by 2.4 percent in 2024. Yet, it faces hurdles from the finances of Petróleos Mexicanos (Pemex) and severe droughts.
This comes...
Pemex Receives Financial Lifeline through AMLO’s Tax Decree
President Andrés Manuel López Obrador (AMLO) has given Pemex, Mexico's state-owned oil company, a significant tax break.
This decision exempts it from certain taxes for...
How to Tackle Pemex, the World’s Most Indebted Oil Company
Mexico's next leader must tackle Pemex's $106 billion debt, impacting both national and global financial interests.
It also impacts the global oil scene and the...
Pemex Boosts Oil Exports After Explosion
In August 2023, following a July marine platform explosion, Mexico's state-owned Pemex experienced increased oil exports.
The mishap cost two lives and nearly a day's...
Fitch Says Mexico’s Aid to Pemex Not Enough
Fitch Ratings states Pemex needs US$81.5 billion over four years. Mexico's 2024 budget offers the oil company US$8.3 billion for immediate debts.
The budget also...
Pemex confirms minor pipeline leaks at Ek Balam field
Petróleos Mexicanos (Pemex) acknowledged two small leaks in its Ek Balam field pipelines, located on the Atlantic coast.
Pemex rejects claims from Greenpeace and other...
Fitch lowers credit rating of Pemex to B+
Fitch Ratings announced a revision of its credit rating on Petróleos Mexicanos (Pemex), lowering it to B+ from BB-.
This decision is due to operational...
Mexican Pemex produces half of the gasoline and diesel it promised for November
The state company Petróleos Mexicanos, known as Pemex, produced half of the gasoline and diesel it promised during November 2022.
The Mexican giant led by...
Pirates threaten Mexico’s Pemex, the gold mine of Obrador’s government
The night falls, and the pirates are ready to attack. Without the need to use their weapons, they will commit one more of the...
Mexico’s president intends to refinance state-owned Pemex’s debt with IMF credits
RIO DE JANEIRO, BRAZIL - Mexico has begun a debt refinancing process for state-owned Petroleos Mexicanos (Pemex) after the country received a transfer of...
Moody’s downgrades Mexico’s Pemex rating to junk status
RIO DE JANEIRO, BRAZIL - Moody's on Tuesday (27) downgraded Petróleos Mexicanos' (Pemex) credit rating to Ba3 from Ba2, and maintained the negative outlook...