Money Alert for Mexican State Oil

Mexico (Prensa Latina) – Mexican oil company Petroleos Mexicanos (PEMEX) faces a paradoxical financial situation with extraordinary profits but a future of great debt, PEMEX General Director Jesus Reyes confirmed on Wednesday.

Despite PEMEX favorable situation on the international market, operating costs, insufficient investment, negative results from both the refining and petrochemical sectors, plus the recent sabotage of gas pipelines, forecast a permanent lack of financial resources, he explained.


He added the challenge of compensating for the production decline of Cantarell (the largest Mexican oilfield) with others, which will mean unprecedented financial and technological adjustments.

Prensa Latina