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LatinNews Daily - 18 July 2019

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In brief: Moody’s urges more investment in Pemex

* Credit ratings agency Moody’s Investor Services has said that the Mexican government should significantly increase financial support for state-owned oil company Petróleos Mexicanos (Pemex). In a statement circulated in the media the day after the government led by President Andrés Manuel López Obrador unveiled a new business plan for Pemex, Moody’s said that the government would have to increase its financial support to Pemex significantly for the national oil company to increase its capital investment to levels needed to fully replace its reserves”. Meanwhile the Mexican stock exchange (BMV) fell by 1.01% yesterday (17 July) following the unveiling of the new Pemex business plan.