Pemex’s debt falls under $100 billion for the primary time since 2013

Mexico Metropolis. For the primary time since 2013, Petróleos Mexicanos (Pemex) has managed to scale back its debt to under $100 billion, mentioned the director of the state-owned firm, Octavio Romero Oropeza.

He additionally reiterated that the Dos Bocas refinery will quickly start operations, which means that in September of this yr it’s going to course of 340 thousand barrels of crude oil per day.

In yesterday’s morning press convention, President Andrés Manuel López Obrador described as a feat the rescue of Pemex throughout his administration, and careworn that the corporate She’s in her finest second.

On this context, the top of this productive state firm offered a report on its state of affairs on the finish of this six-year time period:

He defined that the outcomes are favorable, since in fixed phrases Throughout this six-year interval, the debt steadiness was diminished by 32.9 billion {dollars}. This determine is equal to 25 %, going from 132.3 billion {dollars} in 2018 to 99.4 billion in 2024.

It reported that confirmed reserves grew from 7 billion barrels in 2019 to 7.5 billion for this yr.

Within the two earlier six-year phrases (between 2011 and 2018) there was a drop in crude oil processing that reached 511 thousand barrels per day.

To reverse this downward development, Romero Oropeza mentioned, throughout López Obrador’s six-year time period, efforts had been made to rehabilitate the six refineries, purchase Deer Park and construct Dos Bocas.

With this, processing has been doubled and within the interval from January to June 2024, refining reached a million 202 thousand barrels per day, and with the entry into operation of Dos Bocas in September of this yr, it will likely be a million 702 thousand, of which 340 thousand will correspond to the Olmeca Refinery.

The Pemex director acknowledged that it’s anticipated that within the first quarter of 2025 (already with the federal government of Claudia Sheinbaum Pardo) the determine will attain a million 761 thousand barrels per day, because of the truth that the coking plant in Tula, Hidalgo might be working.

He careworn that gas self-sufficiency has already been achieved, and that the market has thus recovered.

He defined that the nation wants 1.2 million barrels of gas per day for its inside consumption, of which 927 thousand had been bought in December 2018, however due to the enhance given to the refining system on this administration, in September Solely 52 thousand barrels might be bought per dayand by the primary quarter of subsequent yr there might be 20 thousand.

For his half, the federal president recalled that opposite to the coverage of destroy to Pemex and the CFE, undertaken in neoliberal regimes, throughout his authorities he opted for the rescue.

By the top of this yr, Mexico can have produced virtually one hundred pc of its personal fuels. We aren’t going to purchase gasoline, turbosine or diesel from overseas. Is not {that a} feat?he completed.