Thursday, September 19, 2019

Logo Central America Link

Mexico backs state oil company with $4.2 billion

Thursday, April 14, 2016


Mexico’s government said it will support troubled state-oil firm Pemex, with $4.2 billion in fresh capital and money to make this year’s pension payments, a step some analysts saw as insufficient if oil prices remain low.

Depressed oil prices and declining oil production have led to a liquidity crunch in recent months for Pemex, Mexico’s largest company by sales and the world’s eighth-largest oil producer.


Source: Wall Street Journal