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Latest news with #PetroleosMexicanos

Pemex Posts First Profit in Over a Year as Sheinbaum Eyes $10 Billion Debt Sale
Pemex Posts First Profit in Over a Year as Sheinbaum Eyes $10 Billion Debt Sale

Bloomberg

time2 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.

Mexico announces operation to fortify Pemex's finances
Mexico announces operation to fortify Pemex's finances

Reuters

time22-07-2025

  • 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.

Mexico announces debt sale to fortify Pemex's troubled finances
Mexico announces debt sale to fortify Pemex's troubled finances

Reuters

time22-07-2025

  • 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.

Mexico Keeps Up Oil and Fuel Shipments to Crisis-Stricken Cuba
Mexico Keeps Up Oil and Fuel Shipments to Crisis-Stricken Cuba

Bloomberg

time06-07-2025

  • 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.

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