Mexico Weighs Options to Absorb $40 Billion of Pemex Debt
May 13th, 2024
Via Bloomberg, a report on the Mexican government’s plans for Pemex: Mexico is studying options to absorb as much as $40 billion in Pemex debt, the equivalent of what will come due in the next presidential term, one of its top finance officials told investors in New York. The government is considering options that could […]
Read more »Mexico Presidential Frontrunner Pledges $13.6 Billion For Energy Investments
April 16th, 2024
Via Reuters, a report on the Mexico presidential frontrunner pledge of $13.6 billion for energy investments: The favorite to win Mexico’s presidential election in June, Claudia Sheinbaum, on Monday outlined a plan to invest $13.57 billion in new energy generation projects through 2030. The ambitious program plans to increase wind and solar power generation and […]
Read more »Pemex: World’s Most Indebted Oil Company
October 16th, 2023
Via The Economist, a look at Pemex and why the Mexican government is propping it up: It is rare for the CEO of a company to admit to being anxious. But when, on October 9th, Octavio Romero, head of Pemex, Mexico’s national oil company, appeared before lawmakers, he came close to doing so. Mr Romero […]
Read more »Billions in Oil Riches Vanish in Latin America as Pemex Stumbles
February 7th, 2023
Courtesy of Bloomberg, a report on how Pemex has seen its crude output decline almost every year since 2004 as mismanagement, debt and failing projects drag down Mexico’s oil giant: The rebound in oil prices over the last two years brought in record profits for the world’s largest crude producers, shoring up local economies and boosting jobs. Despite the fanfare, […]
Read more »Pemex’s Losses Deepen Mexico’s Financial Woes
September 1st, 2020
Via STRATFOR (subscription required), a short report on Pemex: Mexican President Andres Manuel Lopez Obrador’s failure to strengthen Pemex’s finances and shore up domestic oil production will exacerbate Mexico’s public finance woes from COVID-19. On Aug. 24, Mexico’s state-owned energy giant Pemex reported its lowest level of monthly crude oil production since 1979, with the company’s […]
Read more »Mexico’s Pemex: From Cash Cow To Resource Drain
May 5th, 2020
Courtesy of The Financial Times, a look at Pemex: At the end of 2016, Pemex came up with a new strategy: it would focus exclusively on profitable activities. The plan, a no-brainer for most businesses, was a novelty for Mexico’s state oil company, a national champion created in 1938 after Mexico expropriated US and UK […]
Read more »Focusing primarily on The New Seven Sisters - the largely state owned petroleum companies from the emerging world that have become key players in the oil & gas industry as identified by Carola Hoyos, Chief Energy Correspondent for The Financial Times - but spanning other nascent opportunities around the globe that may hold potential in the years ahead, Wildcats & Black Sheep is a place for the adventurous to contemplate & evaluate the emerging markets of tomorrow.