Latest news with #PetroleosMexicanos
Reuters
20 hours ago
- 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
20 hours ago
- 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.
Wall Street Journal
04-06-2025
- Business
- Wall Street Journal
Mexico's Pemex to Trim Costs With Restructuring-Related Job Cuts
MEXICO CITY–Mexican state-owned oil company Petroleos Mexicanos said it expects to save around $185 million in administrative costs this year with layoffs of non-union staff as part of the company's restructuring into a vertically integrated company following changes in Mexican laws. The restructuring aims to eliminate duplicate functions and positions in areas such as marketing, planning, and contracting services, while channeling more resources to operating activities, Pemex said Wednesday.
Bloomberg
04-06-2025
- Business
- Bloomberg
Investors Bet Sheinbaum Can Rescue Pemex Where Others Failed
For a company drowning in debt, Petroleos Mexicanos SA is enjoying a rare wave of investor optimism. Buyers are snapping up the driller's bonds, betting President Claudia Sheinbaum can stabilize its finances and restore credibility for the state-owned giant. The extra yield investors demand to hold the company's debt over Mexican sovereign bonds has shrunk to almost three percentage points, hovering near a record low on speculation that the government will unveil a sweeping package of about $50 billion to shore up Pemex.
