Thursday, June 13th, 2019
Fitch Ratings lowered Pemex’s credit rating, taking away its investment grade. Here is what experts said.
Mexico usually buys US$1B worth of financial positions to protect its oil revenues from price fluctuation. The operation has been slowing down this year.
CEO Octavio Romero met with a delegation of Norwegian investors. They talked about key issues such as investment strategies, exploration and production.
Pemex presented modifications to the development plan of the Kambesah field. This is what the National Hydrocarbons Commission (CNH) had to say about it.
Fitch recently changed the NOC’s rating from “BBB-” to “BB +.” Here is what Jonathan Heath, sub-director of Mexico’s Central Bank (Banxico), has to say about it.
Former Pemex counselor, Carlos Elizondo, said that the company must allocate its resources to E&P, not to purchase of companies, as it did with AgroNitrogenados back in 2013.
Pemex is facing a difficult financial and operational situation, but has shown its optimism about the future, thanks to recent help from the government. The NOC announced its goals for proven reserves for the next five years.
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