Latest news with #PetroleosMexicanos
Bloomberg
2 days ago
- Business
- Bloomberg
Pemex Posts First Profit in Over a Year as Sheinbaum Eyes $10 Billion Debt Sale
Petroleos Mexicanos swung to a profit in the second quarter, a positive signal for the embattled state oil company as President Claudia Sheinbaum's administration seeks to raise as much as $10 billion to pay down the company's massive debts. Pemex posted a net income of 59.52 billion pesos ($3.2 billion) for the second quarter. It was the first profit result in more than a year for the company, which reported about $30 billion in losses in 2024.
Bloomberg
2 days ago
- Business
- Bloomberg
Mexico Looks to Tap Debt Markets With Offering to Support Pemex
Mexico kicked off a debt offering to support beleaguered state-owned oil company Petroleos Mexicanos. The offering will consist of dollar-denominated debt maturing August 2030, according to a person familiar with the matter. Initial price talks are around 200 basis points over US Treasuries, added the person, who requested anonymity because the information is private.
Reuters
22-07-2025
- Business
- Reuters
Mexico announces operation to fortify Pemex's finances
MEXICO CITY, July 22 (Reuters) - Mexico's Finance Ministry announced an upcoming operation on Tuesday aimed at strengthening the financial position of state energy company Petroleos Mexicanos (Pemex). In a statement, the ministry said the operation would consist of issuing financing instruments called Pre-Capitalized Notes but did not constitute a guarantee for the company. Pemex is the world's most indebted energy company.
Reuters
22-07-2025
- Business
- Reuters
Mexico announces debt sale to fortify Pemex's troubled finances
MEXICO CITY, July 22 (Reuters) - Mexico's Finance Ministry announced an upcoming operation on Tuesday aimed at strengthening the finances of the country's heavily-indebted state energy company Petroleos Mexicanos (Pemex). In a statement, the ministry said the operation would consist of issuing financing instruments called Pre-Capitalized Notes, but that the operation would not constitute a guarantee for the company. The ministry's statement did not say how much the sale aimed at raising for Pemex. Earlier on Tuesday, Bloomberg News reported, citing unnamed sources, that the government was looking to raise between $7 billion and $10 billion with the sale. Pemex, the world's most indebted energy company, has an outstanding debt with an extensive list of suppliers and contractors of around $20 billion, in addition to another financial debt of $101 billion, despite the injection of billions of dollars from the government in the last few years to face the amortizations.
Bloomberg
06-07-2025
- Business
- Bloomberg
Mexico Keeps Up Oil and Fuel Shipments to Crisis-Stricken Cuba
Mexico's state-owned oil company is throwing Cuba a much-needed lifeline as the Caribbean island struggles to keep its power grid operational amid its worst economic crisis since the collapse of the Soviet Union. Petroleos Mexicanos sold 3.1 billion pesos ($166 million) of crude and fuel to the communist-run nation in the first quarter of this year through its subsidiary Gasolinas Bienestar, according to a company filing.
