Saturday, January 30, 2016

Revenues of the Mexican state-owned Pemex oil production fell by 70% – REGNUM

Mexico City, January 31, 2016, 09:55 – REGNUM In Mexico, revenues of the state oil company Petroleos Mexicanos (Pemex) decreased by 70% due to the continued fall in world oil prices. On this day, January 31, the Minister of Energy of Mexico Pedro Joaquin Coldwell, speaking before the Parliament.

The head of the Mexican Energy Ministry said that the reduction in income means the suspension of a number of investment projects. This Caldwell noted that oil companies around the world have been forced to cancel or suspend their investment projects totaling about $ 200 billion.

The minister told MPs that the government has prepared the new mechanisms to allow the Ministry of Finance and the Commission for Securities securities to raise additional resources to priority oil projects. It is planned to place the bonds on $ 5 billion. This should allow Pemex to compensate for loss of income.

Earlier, Bloomberg reported that Pemex lost $ 10.2 billion in the third quarter of 2015.

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