The federal government announced that from last year and until 2024 it would absorb the company’s debt write-downs as part of strategies to improve its financial position after the pandemic.
In the first quarter of the year, the company has already received financial support to cover its amortizations, according to what was said this morning at the conference with analysts.
The administration of the oil company did not completely rule out financial support and said that there is “potential support” in the event that it is required. “If necessary and economic conditions change, support from the federal government could materialize again. As of today, we identify that, at least in the short term, it might not be required,” said the interim director of finance.
The declaration of the directors of Pemex follows up on what was said last Thursday by Rogelio Ramírez de la O, the secretary of the Treasury, regarding that the federal government is willing to spend resources to cover the company’s debt amortizations, even though the company’s revenues have improved.
The agency Reuters reported a few weeks ago that on April 21 The state-owned Pemex would pay about 1,000 million euros from its cash related to the maturity of a bond it issued in 2015.
According to ReutersPemex has payments for around 3,800 million dollars between next May and December related to principal and interest payments.