Image credits: Rogelio Ramírez de la O
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News Article

Finance Minister Confirms Continuation of Support to PEMEX

By Antonio Trujillo | Tue, 09/07/2021 - 09:31

Mexico’s Finance Minister, Rogelio Ramírez de la O, said the Ministry will continue its support to state-own PEMEX, but that no new  constitutional legislations will be carried out.

Ramírez de la O´s remarks were made during Moody’s Inside LatAm seminary and the Minister said there would be new approaches between the Ministry and the NOC, aiming to have feedback on important matters yet to be resolved, and for the development of new projects that could generate additional revenue. 

“We want to be very emphatic in emphasizing to the market, to analysts and to Congress that the government is committed to continue supporting PEMEX,” Ramírez de la O . These efforts come as a direct result of President López Obrador’s push for a greater proximity between both organisms, and to discuss important matters. The Minister revealed that the relationship has already produced a greater foundation for PEMEX, in regards to fiscal and financial matters. 

Minister Ramírez de la O added that several opportunities are available at the micro level in several projects from the company. “We are still talking about several of these projects, but without a doubt it is a relationship that will be much closer between the Ministry of Finance and PEMEX,” he highlighted. Some analysts affirm that these talks are considered a sign that the Minister's wants to have greater influence on how the oil company manages government financial aid. 

The data used in this article was sourced from:  
El Financiero
Antonio Trujillo Antonio Trujillo Junior Journalist & Industry Analyst