Pemex Receives $13bn YTD on Oil Sales
Mexican state oil company Pemex received more than $13bn from January to May 2022 for the crude oil it sold in international markets. The amount received was around $5.4bn more than budgeted for the same period, thanks to oil prices rallying above 45% YTD. Pemex’s...
Pemex to Refinance Suppliers’ Debts With New 8.75% 2029s
Pemex will refinance debts owed to suppliers via the issuance of new 8.75% bonds due 2029. Pemex owed MXN 370.7bn ($18.8bn) in 2021 and MXN 72.6bn ($3.7bn) in Q1 2022 to its suppliers. Bloomberg reports that the refinancing “will cover $2bn of debt to Pemex...
Pemex Reverses Losses with $6bn Q1 Profit
Pemex reported a net profit of $6.2bn in Q1 2022, reversing nearly $2bn in losses during the year-ago period. This was its highest profit in 18 years with the state-owned company benefiting from rallying oil prices, stabilizing crude output and foreign exchange gains....
