Mexico’s AMLO Proposing New Energy Bill In Another Effort to Restore Pemex to Glory
Mexico president Andres Manuel Lopez Obrador (AMLO) sent a bill on Friday to the Mexican Congress, which allows the suspension of permits to private hydrocarbon companies on account of national security, significantly favoring the state oil company Pemex. Considering...
Pemex Bonds Inch Up on $667mn Savings on Odebrecht Contract
Mexico successfully renegotiated the ethanol contract that was found onerous with Braskem Idesa, a subsidiary of Braskem that is in turn controlled (50.1% voting shares) by Brazilian construction giant Odebrecht. The new contract will generate savings of $667mn for...
Pemex’s Rating Withdrawn by Fitch
Mexican state oil company Petroleos Mexicanos (Pemex) has ended its contract with credit ratings agency Fitch Ratings, which will lead to Fitch withdrawing its BB- rating on the company. Fitch was the first of the big three rating agencies to downgrade Pemex to junk...
