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10 Jan 2019, Radoslav Yordanov, EMIS Editor

Mexico’s Pemex expects capital infusion of $ 1.25bn in 2019

Mexico’s state-run oil giant Pemex said that it expects to receive from the government a capital infusion of USD 1.25bn this year, El Financiero reported citing an information released by Reuters.

The company affirmed that it would invest these resources in improving its crude production, which has recently dropped to its lowest levels in decades. In this regard, Pemex sees crude output recovering from 1.8mn bpd to 2.45mn bpd in the next four years.

The company currently has a total financial debt of USD 103bn and its strategy in 2019 will consist of increasing oil production and reducing costs.

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