Petroleos Mexicanos (Pemex) will continue searching improve your financial position and debt profile during the remainder of 2023 and into next year, its CEO Octavio Romero Oropesa said on Wednesday.
Pemex, the largest company in Mexico, has financial debt $107.4 billion and it has to cover $4.600 million in depreciation for the rest of the year, especially in the last two quarters, according to its own first-quarter financial data.
“During the remainder of 2023 and 2024, Pemex will continue to take steps to strengthen its financial position and improve your debt profile, Romero said at the opening of an oil congress in the south of the country, which was broadcast over the Internet.
This was stated by Deputy Minister of Finance of Mexico Gabriel Yorio in a recent interview with the agency. Reuters that the company is able to repay the remainder of its debt obligations for 2023 and is studying refinancing strategies for the coming year.
Yorio noted that by 2024, Pemex’s debt will be divided between market and bank debt and a state-owned company is reviewing refinancing strategies.
“Pemex has almost fulfilled (…) 60% to 70% of the market debt they have for this year in 2023,” Yorio said. “At the moment We do not see a problem for Pemex in fulfilling its obligations”, added.
“The meeting with them has not stopped and we are not seeing this in the near future. If it is needed, the Mexican state will support the company.”he stressed.
(According to information from Reuters)
Source: Aristegui Noticias
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
