Mexico To Support Indebted State Oil Firm Pemex With $3.6B | WHAT REALLY HAPPENED


Mexico To Support Indebted State Oil Firm Pemex With $3.6B

Mexico will support Pemex by injecting US$3.6 billion into the debt-laden state-held oil firm, including by refinancing debt and cutting taxes, Mexican officials said on Friday.

The Mexican government, however, will not take on new debt for Pemex, Reuters quoted officials as saying at a regular press conference.

The Mexican state oil firm has a total of US$106 billion in financial debt.

If Pemex needs more capital injection, the government will provide it, according to Finance Minister Carlos Urzua.

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