Tag Archives: Pemex

AMLO Says Dos Bocas Refinery Still on Track

By THE PULSE NEWS MEXICO STAFF     Despite the fact that one day earlier his government’s Finance Undersecretary Arturo Herrera told the Financial Times in London that construction of the Dos Bocas refinery in the southeastern state of Tabasco had been put on hold, Mexican President Andrés Manuel López Obrador (AMLO) on Wednesday, March 13, said that the project would proceed

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AMLO’s First 100 Days as Team Mexico Manager

By RICARDO CASTILLO     Mexican President Andrés Manuel López Obrador(AMLO) is currently preparing his report on his first 100 days in office. The precise day will be Sunday, March 10, but he’s already announced that he will instead blow his own horn on Monday, March 11, during his daily morning press conference at the National Palace in Mexico City. Last Wednesday,March

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Who Rates the Rating Agencies?

By RICARDO CASTILLO     Is the Damocles sword a mythical tale? Surely not for Mexican President Andrés Manuel López Obrador (AMLO), who now sees it swinging over his political neck like a pendulum in the form of international rating agencies Fitch, Moody’s and S&P. The awesome rating threesome has lashed out against Mexico, putting the nation’s economy not on a downward

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Mexico’s Cash Cow Runs Dry

By RICARDO CASTILLO     There’s no question about it: Mexico’s once-prolific cash cow has run dry. The country’s economic national pride, the state-run oil giant Petróleos Mexicanos (Pemex), is now in financial straits, with its latest corporate report showing that just in the last quarter of 2018, it “lost” over 2 billion pesos. That definitely makes Pemex the only oil company

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Bank of Mexico Lowers Forecast for Annual Growth

By THÉRÈSE MARGOLIS     The Bank of Mexico (Banxico) lowered it predicted 2019 GDP growth rate for Mexico on Wednesday, Feb. 27, from between respectable 1.7 and 2.7 percent to an unexceptional 1.1 to 1.2 percent on Wednesday, Feb. 27. Citing a variety of causes from a global economic slowdown to internal factors such as fuel shortages (due to a nationwide

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International Financial Institutes Give AMLO’s Pemex Bailout Plan Thumbs Down

By THÉRÈSE MARGOLIS     On the morning of Friday, Feb. 15, Mexican President Andrés Manuel López Obrador (AMLO) eagerly presented his four-punch bailout plan to save the country’s financially lethargicm state-run oil company Petróleos Mexicanos (Pemex) from economic collapse. By that same afternoon, at least three international financial institutions and one of the “Big Three” global credit rating agencies had declared

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All the (Former) Presidents’ Men (and an Ex-President to Boot)

By RICARDO CASTILLO     What was the political gossip this week in Mexico? Definitely, the “denunciations” President Andrés Manuel López Obrador (AMLO) made of nine past officials for stealing money from the near-bankrupt, still-government-run electricity monopoly, the Federal Electricity Commission (CFE). As we covered in Pulse News Mexico, on Monday, Feb. 11, the president, during  his daily press conference at the National Palace in downtown Mexico City,

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