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However, the authorities managed to reduce the growth rate of the oil company's debt, since it only increased by 50 thousand 400 million pesos compared to 2016, when the 39 Consolidated debt of the oil company amounted to one billion 955 million 400 million pesos.
The figures are contained in the semi-annual report on the use of indebtedness of Pemex and its subsidiaries, semester of 2017.
The document states that, according to the Business Plan 2017-202 ( whose goal is to slow down the growth of Pemex's debt and stabilize it), the growth rate was lowered last year From 1965 to 2016, Pemex's debt has increased by nearly 500 billion pesos, rising from one billion 474,000 900 million pesos to one billion 955 million 400 million pesos.
Debt had a similar increase since 2013, when it was 831 thousand 400 million pesos and increased to one billion 129 thousand 600 in 2014, the year of energy reform.
The text emphasizes that, as a state-producing company, Pemex focuses on value generation, so it must maintain profitable businesses and investments and these are funded each year, at a time with resources generated by the company and with financing, by different instruments and financial institutions. The strategy, he says, is focused on deeper markets, taking advantage of windows of opportunity in some markets and trying to maintain a maturity profile with the lowest concentration. possible.
In addition, 84% Debt is contracted at a fixed rate to mitigate volatility scenarios. Similarly, it details, 87% of the debt is in dollars or is converted into this currency by means of financial derivative instruments to promote the flow structure and hedge the currency risk.
It states that in the second half of 2017, Pemex exercised 86 thousand 100 million pesos in physical investment. Resources were mainly used to fund exploration and production projects.
They were considered as strategic projects that stabilize the oil production platform.
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