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 oversubscribed.

Source: Reuters

Published: 13-09-2019