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Pemex Reduces its Debt Pace and Achieves a Primary Credit Balance for the First Time in Five Years

  • Pemex CEO Carlos Treviño stated that today Petróleos Mexicanos is an attractive company, which is greatly sought after by the largest oil companies in the world for partnerships

Petróleos Mexicanos currently maintains a prudent financial management and has reduced its debt pace, thanks to the adoption of better management practices, Carlos Treviño Medina, the Pemex CEO, stated.

Furthermore, he highlighted the implementation of the Compliance program, which applies conformity regulations and codes of ethics as tools to fight corruption using 9 principles: lawfulness, integrity, honesty, effectiveness, responsibility, loyalty, impartiality, equality and non-discrimination.

In a press conference held at the Official Residence of Los Pinos, Treviño Medina pointed out that during 2017, the State-owned Productive Company achieved a Primary Credit Balance of 7,513 million pesos. This has not occurred since 2012, when the company achieved a credit balance of 1,043 million pesos.

With the Spokesman for the Government, Eduardo Sánchez, the Pemex CEO explained that an inflection point for the financial balance of the company was achieved at the close of the previous fiscal year, thanks to the discipline with which the Business Plan has been set into motion. Additionally, the production goal of 1,948 barrels of crude oil per day has been surpassed.

Treviño Medina emphasized that, following the instructions from President Enrique Peña Nieto, the State-owned Productive Company will continue working at full steam to meet the demands of its Business Plan, and therefore, he stated, it will prioritize those business areas that guarantee the greatest profitability, within the competitive arena that Mexico has become since the Energy Reform was approved.

In order to achieve this goal, he added, the company will formalize more strategic partnerships that will allow it to boost business opportunities and consolidate itself as a leading company in the field of exploration and extraction. He underscored that Pemex is currently an attractive company, highly sought after by the largest oil producers in the world for partnerships.

Regarding fuel theft, Treviño Medina reported that the follow-up and surveillance plans have been reinforced, which resulted in the detection and disabling of an increased number of illegal taps.

“Pemex is a victim of this crime. At Pemex, we have a policy of zero tolerance towards this kind of behavior, and whenever we discover someone whom we suspect of involvement in this criminal activity, we have reported and fired them. It has always been this way and I would ask the public to report any suspicious behavior, because that would help us greatly in capturing these criminals,” he said.

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Última modificación 11/04/2018 18:13