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Mexico to Inject $3.9 Billion In Pemex

Video Credit: Wochit Business - Duration: 00:33s - Published < > Embed
Mexico to Inject $3.9 Billion In Pemex

Mexico to Inject $3.9 Billion In Pemex

According to Reuters, Mexico will inject $3.9 billion into state oil company Pemex, promising to strengthen its finances and prevent a further credit downgrade, although investors saw the plan as only a short-term fix.

Falling oil output, corruption and high labor costs have contributed to the decline of the company that was once a symbol of national pride.

It now holds roughly $106 billion in financial debt, the highest of any national oil company in Latin America.

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Mexico to Inject $3.9 Billion In Pemex

DEC.

30, 2016 FILE PHOTO, AP PROVIDES ACCESS TO THIS PUBLICLY DISTRIBUTED HANDOUT PHOTO PROVIDED BY PETROLEOS MEXICANOS FOR EDITORIAL PURPOSES ONLY.




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