Mexico's Pemex: Debt, Partnerships & Production Goals

Mexicos Pemex Faces Massive Debt: Government Issues P-Caps, Creates Special Investment VehicleThe Mexican government has introduced a financial tool, P-Caps, to help state-owned energy company Pemex manage its staggering debt, totaling over $150 billion. Pemex, the worlds most indebted oil company, also faces $20 billion in unpaid bills to suppliers. The government issued $12 billion in P-Caps and created a $13 billion investment vehicle to fund Pemexs operations. To improve its financial standing, Pemex aims to increase oil and gas production, but needs partners with deeper pockets, while maintaining control over joint operations.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.