Mexican president says Pemex will consolidate finances

Mexican president says Pemex will consolidate finances

Mexican President Andres Manuel Lopez Obrador said on Friday that Petroleos Mexicanos (Pemex) will consolidate its finances and has a bright future, a day after the state oil firm carried out the biggest refinancing operation in its history.

Asked about concerns that a recent capital injection to the heavily-indebted Pemex would not be sufficient, Lopez Obrador pointed to the fact that a $7.5 billion Pemex bond placement on Thursday was more than five times over d.

Source: Reuters

Published: 13-09-2019