Pemex does not have the necessary budget to solve its financial and operational crisis, but the government is analyzing different alternatives to help the NOC. Pension fund administrators (Afores) could play a key role in this process.
Pemex has been reporting a constant declining production over the last decade, but this has not been its only problem. The NOC has faced several issues such as wasteful spending, a high tax burden and a huge debt.
Pemex announced its financial and operational results for the fourth quarter and year ended 2018, highlighting positive performance in key metrics such as EBITDA, operating income and total sales. The company continues to report a net loss, but it decreased compared to previous year.
Andres Manuel Lopez Obrador (AMLO), President of Mexico, continues to announce measures to solve the financial and operational crisis of Pemex. Octavio Romero Oropeza, CEO of Pemex, spoke about the awarding of new oil contracts.