Senate Requests Pemex for Debt Report and Payment Strategy
The state-owned oil company owed 403 billion pesos to its contractors according to a Pemex financial report from 2024’s third-quarter
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Pemex Profit Falls 54 Percent in First Quarter of 2023
According to the state-owned oil giant, the drop in profit is the result of a decrease in total sales, the increase in the impairment of fixed assets and the lower income from the resale of products.
Read morePemex Liable to Pay $16.7 Billion in Debt before End of 2024
By KELIN DILLON According to the new 2023-2027 Business Plan Report presented by Mexico’s state-owned oil company Petróleos Mexicanos (Pemex), Pemex must pay back more than $16.7 billion in debt amortizations before the end of Mexican President Andrés Manuel López Obrador’s (AMLO) six-year term, which is set to end in 2024. The report revealed that Pemex was able to put
Read moreAMLO’s Latest Ballistic Missile Is Aimed at Education
OPINION By ALEJANDRO ENVILA FISHER After a resounding failure to pass his controversial electricity reform bill in the April 17 vote at the Chamber of Deputies, Mexican President Andrés Manuel López Obrador (AMLO) and his leftist, in-power National Regeneration Movement (Morena) party have set their aim on yet another target: the opposition. That campaign is gaining traction by Morena further
Read moreThe Fox and the Henhouse: A Mexican Fairytale
OPINION By THÉRÈSE MARGOLIS In what can only be considered a case of the fox being sent to guard the henhouse — and then, declaring himself innocent while standing in a coop strewn with dead chickens — Baker Hughes Latin America director Bob Pérez on Monday, Feb. 21, said that having “thoroughly reviewed” the contracts his company has with Mexico’s
Read moreUnited States Approves Pemex’s Deer Park Refinery Purchase
By KELIN DILLON On Wednesday, Dec. 22, the U.S. government approved Mexico’s state-owned oil company Petróleos Mexicanos’ (Pemex) $596 million purchase of Shell’s Texas refinery Deer Park, with the acquisition planned to be finalized within the first few weeks of 2022. “The purchase shows a good relationship between the United States and Mexico,” said Mexican Secretary of Foreign Relations Marcelo
Read morePemex Explosion Causes 25 Percent Production Loss
By KELIN DILLON The deadly explosion on Mexican oil venture Petróleos Mexicanos’ (Pemex) Ku-Alfa platform in the Campeche Sound, which left five dead and two missing, will now result in a 25 percent loss in production for the state-owned company. A total of 142 wells were closed after the disaster, slowing production by 421,000 barrels of oil a day. “The
Read moreMexico News Roundup
By RICARDO CASTILLO An Irate Response After Mexican President Andrés Manuel López Obrador (AMLO) asked Supreme Court Chief Justice Arturo Zaldivar to order an investigation into Judge Juan Pablo Gómez Fierro (who indefinitely suspended the president’s controversial new electricity bill), Zaldivar complied and requested the officer in charge of the Council of the Judiciary, Carlos Alpízar, to pay a visit
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By RICARDO CASTILLO Extended Isolation The full containment of the Covid-19 pandemic in Mexico will require much time than originally planned, so the stay-home period may have to be extended from the original April 30 to May 30, said Public Health Undersecretary Hugo López-Gatell, who is in charge of monitoring the spread of the disease. The announcement was made during
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By RICARDO CASTILLO AMLO-Trump: The Art of the Deal The smoke screen left behind on Thursday, Dec 5, by the noisy visit of U.S. Attorney General William Barr cleared rapidly over the next three days as U.S. President Donald Trump and his Mexican counterpart, Andrés Manuel López Obrador (AMLO) practiced both the art of the deal and quid pro quo
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