Mexico would need more ‘fiscal cuts’, if Pemex’s Business Plan does not meet its goals, the International Institute of Finance (IIF) said.
Pemex is facing a difficult situation in operational and financial terms, and it seems like bad news continues for NOC. Fuel oil could be a new problem for the firm.
Pemex announced its business plan for the next years, generating few positive expectations in the markets. However, the NOC announced a decision on a deep-water offshore project, sending a positive message to investors.
The NOC’s 2019-2024 Business Plan promises to turn it into Mexico’s largest fertilizer producer. This aspect, however, might prove to be a stumbling block in President Andrés Manuel López Obrador’s (AMLO) plan.
Pemex CEO, Octavio Romero, spoke about the alleged progress his team has achieved this year, but figures show the opposite. The development of these and other stories in our periodic Security summary.
The Mexican government has taken several measures to solve the Pemex crisis and increase investment levels in key fields. The National Hydrocarbons Commission (CNH) said that the NOC will invest in one of the most important blocks in Mexico.
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