by Amruth Sundarkumar | Jun 8, 2021 | High Yield Bonds
Mexico’s reform to the Hydrocarbons Law, that was designed to benefit state-owned oil major Petróleos Mexicanos Pemex, was suspended permanently by Judge Juan Pablo Gómez Fierro. The definitive suspension, nullifying the reform proposed by President Andres Manuel...
by bondevalue | May 25, 2021 | High Yield Bonds
Mexican state oil company Petróleos Mexicanos (Pemex) offered to buy Shell’s stake in the Deer Park refinery, which is currently in partnership between the two companies, for $600mn. The acquisition includes cash, debt, and hydrocarbon inventories worth...
by bondevalue | May 11, 2021 | High Yield Bonds
Mexico’s Petroleos Mexicanos (Pemex) continues to accumulate millions of dollars in late payments to oil companies as it struggles to produce cash with its mounting debt levels and weak crude sales. As of last month, Pemex owes around $60mn to Egypt’s Cheiron...
by bondevalue | May 3, 2021 | High Yield Bonds
Mexican oil company Petroleos Mexicanos (Pemex) released its Q1 numbers where it reported its fifth consecutive month of growth in oil production. The company reported sales of MXN 317.55bn ($15.7bn) in the quarter, up 11.8% YoY. The oil company was subject to a 11.3%...
by bondevalue | Apr 22, 2021 | High Yield Bonds
Mexico’s lower house congress approved President Andres Manuel Lopez Obrador’s (AMLO) reform to the hydrocarbon law that restricts private competition, strengthening state-run oil company Petroleos Mexicanos (Pemex). The vote was approved with 301 in favor vs. 147...
