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The first and perhaps most imperative task for the new director of Mexican Petroleum (Pemex), Victor Rodriguez Padillawill help resolve the debt that exceeds 100 billion dollars, warn energy sector analysts.
“The company is going through difficult times and urgently needs to resolve its fiscal situation, it is imperative, and it has to decide how to pay its debt, which in the first days of September alone will have to settle 7 billion dollars,” he said. Gonzalo Monroyenergy expert and director of the consulting firm GMEC.
He added that in December the firm will have to pay another thousand 500 million dollarsand those debts must be the priority attention.
He stated that the new director of Pemex who will take office on October 1, is a dean of oil nationalism with more than three decades in the sector, but a more technical-financial profile was needed given the current situation of the company.
“Rodríguez Padilla is the dean of oil nationalism of the last three decades and an academic with a high degree of nationalist ideology, so He is a critic of openness to investment“, he stressed.
He acknowledged that he has more credentials than Octavio Romero, who is an agronomist, “we are going to have someone who has a little more credentials, but in principle there will not be a real or significant change in the prospects of Mexican Petroleum”.
He stressed that crude oil production is below 1.5 million barrels, which is equivalent to what we had in February 1978, “a refining that has not finished starting, a refinery in Two Mouths which is not understood, which is why they leave a broken model and it does not seem that Víctor Rodríguez has a way to substantially change the model.”
Ramses Bad Luckan energy specialist, recalled that Pemex has a debt of more than 100 billion dollars, so it must be absorbed by the Nation as was done in 2015 with the retirees of the parastatal and become a public debt.
He stressed that the new director will have the opportunity to present a new bet for Mexican Petroleum that it does work, but not for six years, “a plan is needed for 15 or 20 years, otherwise everything will remain the same.”
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2024-09-03 23:36:35