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[1/2] The logo of Petroleos Mexicanos (Pemex) is pictured at the company's headquarters in Mexico City, Mexico July 26, 2023. REUTERS/Raquel Cunha/File Photo Acquire Licensing RightsMEXICO CITY, Nov 7 (Reuters) - Mexican state energy company Pemex and U.S. liquefied natural gas (LNG) company New Fortress Energy (NFE.O) have terminated a deal to develop potentially the country's first deepwater natural gas project that was signed a year ago, two sources with direct knowledge of the matter said. Last month, Pemex decided to halt the project after NFE wanted to impose conditions Mexican officials considered unacceptable, including NFE buying the natural gas too cheaply from Pemex, one of the sources said. Pemex wanted to develop Lakach with the U.S. company using a service contract, a mechanism used prior to the Mexico's energy sector opening in 2013-14. Reuters previously reported that officials at the CNH and Pemex had been at odds over how to develop Lakach and other large fields.

Persons: Raquel Cunha, Pemex, NFE, Lakach, Andres Manuel Lopez Obrador, Stefanie Eschenbacher, Ana Isabel Martinez, Mariana Parraga, Adriana Barrera, Dave Graham, Marguerita Choy Organizations: REUTERS, MEXICO CITY, New Fortress Energy, U.S, Reuters, U.S . Department of Energy, Thomson Locations: Mexico City, Mexico, MEXICO, Gulf of Mexico, Veracruz, Gulf, Tamaulipas, Altamira, Houston

☆ Mexico's Pemex gets billions more in government support
▼ + stars: | 2023-10-27 | by ( ) www.reuters.com time to read: +3 min

The logo of Petroleos Mexicanos (Pemex) is pictured at the company's headquarters in Mexico City, Mexico July 26, 2023. In October, Pemex received 55.9 billion pesos ($3.2 billion) from the government to strengthen its financial position, accounts show. Separately, Pemex received 71.7 billion pesos over the quarter for debt amortizations. Instead of focusing so much on Pemex, Mexico could have made more of private-sector investment, boosting renewable electricity output and reducing fossil fuel reliance, he said. Pemex also reported a third-quarter net loss of 79.13 billion pesos, revenues of 462 billion pesos and a financial debt of $105.8 billion.

Persons: Raquel Cunha, Pemex, Octavio Romero, Andres Manuel Lopez Obrador, Carlos Urzua, Lopez Obrador, Valentine Hilaire, Ana Isabel Martinez, Adriana Barrera, David Alire Garcia, Stefanie Eschenbacher, Anthony Esposito, David Holmes, Jonathan Oatis Organizations: REUTERS, Reuters, Thomson Locations: Mexico City, Mexico, MEXICO, Dos Bocas, Pemex

☆ Mexico sees solid economic expansion but price pressures persist
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +2 min

Yorio said he sees annual inflation stabilizing at around 4.5% toward the end of the year. However, Bank of Mexico board member Jonathan Heath cautioned that the slowing pace of the inflation rate in recent months should not prompt premature celebration, local media outlet El Financiero reported on Wednesday. We still see a long battle ahead and this inflation phenomenon has really been much more complex than we would have imagined," said Heath. His comments come as the central bank has kept its benchmark interest rate at 11.25% since March, following a nearly two-year rate-hike cycle. Reporting by Ana Isabel Martinez and Isabel Woodford; Writing by Sarah Morland; Editing by Stephen Eisenhammer and Alistair BellOur Standards: The Thomson Reuters Trust Principles.

Persons: Gabriel Yorio, Yorio, Jonathan Heath, we're, Heath, Ana Isabel Martinez, Isabel Woodford, Sarah Morland, Stephen Eisenhammer, Alistair Bell Organizations: MEXICO CITY, Mexican Senate, U.S, automaking, Bank of, El, Thomson Locations: MEXICO, Latin America, Mexican, Bank, Bank of Mexico

☆ Mexico's lower house OKs major tax cut for indebted state-run Pemex
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +1 min

The logo of Petroleos Mexicanos (Pemex) is pictured at the company's headquarters in Mexico City, Mexico July 26, 2023. Pemex's profit sharing rate (DUC), which is effectively a tax paid to the government, has been gradually lowered during President Andres Manuel Lopez Obrador's administration from a high of 65%. The bill's original draft, sent by the finance ministry, pitched a reduction to 35%, though ruling lawmakers voted for a larger cut. Pemex is the most heavily indebted oil company in the world, facing some $110.5 billion in debt and hefty amortizations in 2024. Lopez Obrador said last week that he wanted to further reduce Pemex's tax burden.

Persons: Raquel Cunha, Andres Manuel Lopez Obrador's, Lopez Obrador, Ana Isabel Martinez, Kylie Madry, Jonathan Oatis Organizations: REUTERS, MEXICO CITY, Thomson Locations: Mexico City, Mexico, MEXICO

☆ Mexico will help, provide oil to Cuba, Lopez Obrador says
▼ + stars: | 2023-10-16 | by ( ) www.reuters.com time to read: +1 min

Mexico's President Andres Manuel Lopez Obrador and Chile's President Gabriel Boric (not pictured) deliver a statement to the media at La Moneda government palace in Santiago, Chile, September 10, 2023. REUTERS/Ivan Alvarado//File Photo Acquire Licensing RightsMEXICO CITY, Oct 16 (Reuters) - Mexico will help Cuba, including providing it with oil, Mexican President Andres Manuel Lopez Obrador said on Monday. Mexico began regularly shipping crude oil to Cuba at the end of the first quarter of this year. "However we can help the people of Cuba, we're going to do it," said Lopez Obrador in a regular press conference. He said Mexico did not have to request permission from any foreign government to aid Cuba, which he said suffered from an "inhumane and unjust" embargo.

Persons: Andres Manuel Lopez Obrador, Gabriel Boric, Ivan Alvarado, we're, Lopez Obrador, Fidel Castro's, Ana Isabel Martinez, Anthony Esposito Organizations: La, REUTERS, MEXICO CITY, Mexico, Thomson Locations: Santiago , Chile, MEXICO, Mexico, Cuba, Mexican, United States

☆ Mexico blames Grupo Mexico for 2014 toxic spill, wants new cleanup plan
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +2 min

Grupo Mexico failed to remediate the river's water and soil and did not provide the funds to carry out proper works for the environmental recovery of the area, according to Albores. The company needed to provide an initial 2 billion pesos ($111.86 million), of which it only provided half, she said. The possible fine for the spill was set at up to 40 million pesos, worth about $3 million then. Grupo Mexico did not immediately reply to a request for comment on the causes of the spill and the government complaint. Shares in Grupo Mexico were down 2.3% after Albores' comments on Thursday.

Persons: Maria Luisa Albores, Albores, Ana Isabel Martinez, Valentine Hilaire, Brendan O'Boyle, Marguerita Choy Organizations: Grupo, MEXICO CITY, Grupo Mexico, Thomson Locations: Grupo Mexico, Mexico City, Mexico, MEXICO, Mexico's, Sonora

☆ Tens of thousands protest against possible Catalan amnesty deal
▼ + stars: | 2023-10-08 | by ( Graham Keeley | ) www.reuters.com time to read: +3 min

[1/6] Unionist supporters protest against amnesty of separatist leaders and activists involved in the 2017 failed independence drive at Passeig de Gracia in Barcelona, Spain, October 8, 2023. Pedro Sanchez needs the support of Catalan separatist parties Junts and Esquerra Republicana de Catalunya, which want the unpopular amnesty in exchange for votes in parliament. An amnesty would put the government above democracy and the rule of law," said Javier Tapia, 55, a chemicals worker. The amnesty could potentially cover more than 1,400 people involved in the independence bid that came to a head in 2017, pro-separatist Catalan group Omnium estimates. Around 70% of respondents - 59% of them Socialist supporters – said they were against the idea of an amnesty in a poll in mid-September.

Persons: Passeig de Gracia, Albert Gea, Sanchez, Spain's, Pedro Sanchez, Junts, Alberto Nunez Feijoo, Santiago Abascal, Javier Tapia, Isabel Martinez, Feijoo, Francisco Franco, –, Graham Keeley, Joan Faus, Horaci Garcia, Guillermo Martinez, Andrew Cawthorne Organizations: Passeig, REUTERS, Barcelona, BARCELONA, Spain's, Socialist, People's Party, Vox, Sale, AMNESTY, European Union, Thomson Locations: Barcelona, Spain, Catalan, Catalonia

☆ Mexico flags plan after Grupo Mexico's chemical spill efforts deemed insufficient
▼ + stars: | 2023-10-04 | by ( ) www.reuters.com time to read: +1 min

Mexican President Andres Manuel Lopez Obrador speaks during a news conference in which he panned U.S. military spending on Ukraine as "irrational" stepping up criticism of the war effort as he urged Washington to devote more resources to helping Latin American countries, at the National Palace in Mexico City, Mexico October 2,... Acquire Licensing Rights Read moreCompanies Grupo Mexico SAB de CV FollowMEXICO CITY, Oct 4 (Reuters) - Mexican President Andres Manuel Lopez Obrador said on Wednesday he hoped to have a proposal within 15 days regarding a 2014 chemical spill in the Sonora River by mining and transportation conglomerate Grupo Mexico (GMEXICOB.MX). Last week, Mexico's environmental authority said Grupo Mexico's remediation efforts were insufficient and that the river still showed the presence of contaminants nine years after what is considered the country's worst environmental disaster. Reporting by Ana Isabel Martinez; Editing by Sarah MorlandOur Standards: The Thomson Reuters Trust Principles.

Persons: Andres Manuel Lopez Obrador, Ana Isabel Martinez, Sarah Morland Organizations: Grupo Mexico SAB, Grupo Mexico, Thomson Locations: Ukraine, Washington, Mexico City, Mexico, Sonora

A sign is pictured in front of the Vitol Group trading commodities building in Geneva October 4, 2011. The two Pemex documents are also not public. As part of the settlement, Vitol also dropped a lawsuit against PMI Comercio Internacional, Pemex's international trading arm, for $1.21 million for alleged damages to a refinery in Cressier, Switzerland. Meanwhile, legal proceedings tied to the graft scandal continue in Mexico but also the U.S., where a former employee is on trial, and Ecuador. The graft scandal Vitol acknowledged dates back to Lopez Obrador's predecessors.

Persons: Denis Balibouse, Pemex, Andres Manuel Lopez Obrador, Vitol, Lopez, Adriana Barrera, Stefanie Eschenbacher, Ana Isabel Martinez, Stephen Eisenhammer, Marguerita Choy Organizations: Vitol, REUTERS, MEXICO CITY, Reuters, U.S . Department of Justice, PMI Comercio Internacional, Mexican, Thomson Locations: Geneva, MEXICO, Swiss, Brazil, Ecuador, Vitol, Mexican, U.S, Cressier, Switzerland, Veracruz, Mexico

[1/2] The logo of Petroleos Mexicanos (Pemex) is pictured at the company's headquarters in Mexico City, Mexico July 26, 2023. A third senior trading source confirmed that Vitol had resumed business with Mexico. Neither the deals nor the fact that Mexico resumed trading with Vitol have previously been reported. Vitol declined to comment while Pemex and the Mexican government did not respond to requests for comment. Eventually, Pemex officials pulled the plug on contract negotiations after Vitol officials refused their proposed changes to terms.

Persons: Raquel Cunha, Pemex, cargos, Vitol, Arvin, Andres Manuel Lopez Obrador, Octavio Romero, Pemex's Romero, Javier Aguilar, Aguilar, Stefanie Eschenbacher, Ana Isabel Martinez, Dmitry Zhdannikov, Luc Cohen, Marianna Parraga, Florence Tan, Stephen Eisenhammer, Marguerita Choy Organizations: REUTERS, Reuters, U.S . Department of Justice, Thames, Thomson Locations: Mexico City, Mexico, MEXICO, Swiss, Brazil, Ecuador, Liberia, Houston, Pajaritos, Denmark, Tuxpan, Tampico, America, Geneva, U.S, Brooklyn, London, New York, Singapore

☆ Mexico sees similar economic growth next year, more help for Pemex
▼ + stars: | 2023-09-09 | by ( Ana Isabel Martinez | ) www.reuters.com time to read: +3 min

A draft seen by Reuters had forecast 2024 economic growth at 2.4%, below the final published figure. The 2024 budget will now be debated by lawmakers in Congress, where the ruling coalition of President Andres Manuel Lopez Obrador commands majorities in both chambers. The key 2024 oil price is used to estimate a large amount of government revenue. State oil company Pemex's overall budget will be cut 36%, according to the draft budget from 2023 funding levels. The draft budget projects those costs will dip next year by about 4.75 billion pesos ($270 million), or down by 7.6% in inflation-adjusted terms.

Persons: Mexico's Finance Ministry Rogelio Ramirez de la, Raquel Cunha, Andres Manuel Lopez Obrador, Ana Isabel Martinez, Carolina Pulice, Sarah Morland, Stephen Eisenhammer, Chizu Nomiyama, Leslie Adler, William Mallard Organizations: Mexico's Finance Ministry, REUTERS, Reuters, DUC, Thomson Locations: Mexico City, Mexico, MEXICO, Brazil

☆ Exclusive: Mexico budget sees lower growth, slower inflation in 2024 -draft
▼ + stars: | 2023-09-08 | by ( Ana Isabel Martinez | ) www.reuters.com time to read: +1 min

MEXICO CITY, Sept 8 (Reuters) - Mexico's finance ministry expects economic growth to slow in 2024 to around 2.4% from some 3% this year, according to draft budget forecasts seen by Reuters on Friday. The ministry did not immediately respond to a request for comment about the forecasts, which were in a draft document and confirmed by a source familiar with the matter. The draft was not dated, but the source said the figures were up to date. The ministry is due to present the official 2024 budget to lawmakers in Congress later on Friday. According to the document, the government estimates that headline inflation will ease to 3.8% at the end of 2024 from 4.5% at the close of this year.

Persons: Ana Isabel Martinez, Stephen Eisenhammer Organizations: MEXICO CITY, Reuters, Bank of, Thomson Locations: MEXICO, Bank of Mexico, Mexico's

☆ Exclusive: Mexico's Pemex to lose some 100,000 bpd of crude this month after fire -source
▼ + stars: | 2023-07-11 | by ( Ana Isabel Martinez | ) www.reuters.com time to read: +3 min

[1/3] Boats spray water onto an offshore oil platform that caught fire at the Pemex's Cantarell Field, in the Bay of Campeche, Gulf of Mexico, Mexico July 7, 2023. The reduced production implies that in total Pemex will lose at least 2 million barrels of crude through the end of July, according to Reuters estimates. That means output from Pemex's offshore fields, from which the company extracts most of its oil, will be impacted in the meantime. MOUNTING CLAIMSCantarell, which produced more than 2 million bpd of oil two decades ago, currently produces about 170,000 bpd. Along with Ku-Maloob-Zaap, which contributes some 620,000 bpd from Pemex's northeastern marine region, they provide around 41% of the company's total production of 1.9 million bpd of crude and condensate.

Persons: Pemex, Ana Isabel Martinez, Conor Humphries Organizations: REUTERS, Ciudad del Carmen, Thomson Locations: Bay, Campeche, Gulf of Mexico, Mexico, Handout, MEXICO, Ciudad

☆ Several missing after fire at Pemex offshore platform, Mexico's president says
▼ + stars: | 2023-07-07 | by ( Ana Isabel Martinez | ) www.reuters.com time to read: +1 min

MEXICO CITY, July 7 (Reuters) - Several workers at an offshore platform run by Mexican state oil company Pemex in the Gulf of Mexico are missing after a fire broke out early Friday morning, President Andres Manuel Lopez Obrador told reporters. The president said Pemex firefighters were at the scene at the Cantarell complex, in the Bay of Campeche, to put out the fire after an explosion at a gas production platform and that employees were evacuated. One Pemex employee and three others were injured, the oil workers union said in a statement. A source at the company told Reuters the fire was at Pemex's Nohoch-A offshore gas compression platform, but that oil production remained unaffected. Cantarell produces from one of Mexico's largest oil fields which for decades was one of Pemex's crown jewels.

Persons: Andres Manuel Lopez Obrador, Lopez Obrador, Ana Isabel Martinez, Stefanie Eschenbacher, Manuel Carrillo, Kylie Madry, Isabel Woodford, David Holmes Organizations: MEXICO CITY, Reuters, Cantarell, Thomson Locations: MEXICO, Gulf, Mexico, Bay, Campeche

☆ Two dead, output impacted after fire engulfs Mexican oil platform
▼ + stars: | 2023-07-07 | by ( Ana Isabel Martinez | ) www.reuters.com time to read: +2 min

[1/4] Boats spray water onto an offshore oil platform that caught fire at the Pemex's Cantarell Field, in the Bay of Campeche, Gulf of Mexico, Mexico July 7, 2023. In posts on Twitter, Pemex said it had accounted for all other workers and said oil production had taken a major hit from the blaze. Later on Friday, the company said oil production had been "impacted in a substantial way" due to the fire. A Pemex statement Friday morning indicated that 321 of 328 people working on the sprawling platform had been successfully evacuated. The vast majority of Mexican oil production comes from nearby shallow water fields clustered around the Bay of Campeche in the southern Gulf, where Pemex has suffered a number of industrial accidents in recent years.

Persons: Pemex, Octavio Romero, Cantarell, Ana Isabel Martinez, Stefanie Eschenbacher, Kylie Madry, Manuel Carrillo, Brendan O'Boyle, Isabel Woodford, David Gregorio, Rosalba O'Brien Organizations: MEXICO CITY, Twitter, Thomson Locations: Bay, Campeche, Gulf of Mexico, Mexico, Handout, MEXICO

The FAA downgraded Mexico's aviation safety rating to Category 2 in 2021, citing safety deficiencies and blocking Mexican carriers from adding new U.S. flights. Since Mexico lost the rating, the FAA has conducted a series of audits on the local civil aviation authority and its compliance with international safety standards. Mexican newspaper El Financiero had earlier reported that Mexico had already recovered the safety rating, citing government sources, but a short time later backtracked on the initial report. In the two years since the FAA dropped Mexico to Category 2, the country has revamped its aviation standards, replacing officials and most recently overhauling its civil aviation law. Asked to comment on Mexico's air safety rating, an FAA spokesperson would only say the agency continues "to provide assistance to Mexico's civil aviation authority."

Persons: El Financiero, Andres Conesa, Kylie Madry, Adriana Barrera, Carolina Pulice, Ana Isabel Martinez, Brendan O'Boyle, David Alire Garcia, Diane Craft Organizations: MEXICO CITY, U.S . Federal Aviation Administration, FAA, El, U.S, Thomson Locations: MEXICO, Mexico, United States

☆ Analysis: Mexico's gasoline independence dream sinks in dirty fuel oil glut
▼ + stars: | 2023-05-31 | by ( Ana Isabel Martinez | ) www.reuters.com time to read: +4 min

[1/3] A general view shows Mexican state oil firm Pemex's Cadereyta refinery in Cadereyta, on the outskirts of Monterrey, Mexico, August 27, 2021. The push to increase Pemex's output, however, has ramped up fuel oil production, due mostly to its refineries' struggle to efficiently process the heavy crude Mexican oil fields pump. CORE PROBLEMSPemex fuel oil is a sludge-like product, especially bad for air quality when burnt to generate electricity due to its high sulfur content, which has diminished its market value. Most refiners seek to minimize production of fuel oil by using coking plants to extract higher value fuels like gasoline and diesel from heavy crude. For now, Pemex's motor fuel production is still eclipsed by what it buys abroad, or around 353,000 bpd of gasoline imports this year through April.

Persons: Daniel Becerril, Andres Manuel Lopez Obrador, Lopez Obrador's, Pemex, Lopez Obrador, Lopez, Ana Isabel Martinez, David Alire Garcia, Dave Graham, Marguerita Choy Organizations: REUTERS, MEXICO CITY, Reuters, Pemex, Comision Federal, Thomson Locations: Cadereyta, Monterrey, Mexico, MEXICO, wean, U.S

☆ Mexican president says migrant flows won't increase after U.S. border policy change
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: +1 min

[1/2] Migrants walk between the two border fences as they wait for authorities to request asylum in San Ysidro, California, U.S., as seen from Tijuana, Mexico April 29, 2023. REUTERS/Jorge DuenesMEXICO CITY, May 5 (Reuters) - Mexican President Andres Manuel Lopez Obrador said on Friday he did not expect migrant flows to increase once U.S. border restrictions are lifted next week, pointing to legal pathways for migrants to reach the U.S. The border policy known as Title 42, which allows U.S. authorities to rapidly expel migrants to Mexico without the chance to seek asylum, is due to expire May 11. Lopez Obrador said the availability of U.S. permits and visas that migrants can request from their home countries will prevent the numbers of people attempting to reach the U.S.-Mexico border from growing. "We think migrant flows will not increase, because another option, an alternative, is opening up," Lopez Obrador told his regular daily news conference.

[1/5] A Cuban tanker ship enters Havana's bay with a sign that reads in Spanish: "No more blockade", referring to the trade embargo on Cuba imposed by the U.S., Havana, Cuba, April 25, 2023. Venezuela's oil exports to Cuba so far this year have dropped to 55,000 barrels per day (bpd) from almost 80,000 in 2020. Cuba has also imported since November at least five cargoes from Russia, a long-time supplier, as well as fuel from Caribbean terminals and Europe, the data shows. Officials also blame U.S. sanctions, which complicate the financing and transport of fuel to Cuba, for the crisis. Venezuela's state oil company PDVSA and oil ministry, Pemex, and Mexico's foreign ministry did not reply to requests for comment.

☆ Exclusive: Mexico's Pemex, 'punished' by markets, weighs how to pay heavy debt
▼ + stars: | 2023-03-08 | by ( Ana Isabel Martinez | ) www.reuters.com time to read: +4 min

Romero hit back at credit rating agencies that have "punished" Pemex by declaring its bonds speculative grade, or junk, which made its borrowing more expensive. He said the agencies were ignoring progress made by current management on boosting production, lowering debt and keeping reserves stable. At the end of January, Pemex issued 10-year bonds worth $2 billion at a 10.375% interest rate on the market to refinance some debt. That production target significantly scales back Lopez Obrador's initial oil ambitions, when in late 2018 at the start of his administration he promised to grow Pemex production to 2.6 million bpd. Pumping more, he said, "will comfortably allow us to meet our country's demand for crude oil and fuels."

☆ Once tortured by criminals, Mexico 'survivor' dog looks to win top pet contest
▼ + stars: | 2023-02-23 | by ( Alberto Fajardo | ) www.reuters.com time to read: +2 min

Rescued as a one-year-old with his front limbs destroyed, Pay de Limon (Lemon Pie) found much-needed love at the Milagros Caninos sanctuary, a shelter south of Mexico City, which says he is thriving 12 years later. "He is a survivor of human cruelty and organized crime groups," Patricia Ruiz, founder of Milagros Caninos, told Reuters. Found abandoned in a dumpster in Mexico's central Zacatecas state, a hotbed for cartels and organized crime, Lemon Pie was later transported to the safety of the shelter in the capital. Now, he is ready to take a shot in the online contest for Americans' most dashing dog, albeit a non-native contestant. The contest, America's Favorite Pet, is open to pets on the American continent and runs as part of a charity fundraiser.

☆ Tesla's Musk to hold call with Mexico president, factory announcement imminent -Ebrard
▼ + stars: | 2023-02-17 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, Feb 17 (Reuters) - Electric vehicle maker Tesla Inc (TSLA.O) will soon confirm it has chosen Mexico as a location for a new plant, and CEO Elon Musk is planning to speak with Mexican President Andres Manuel Lopez Obrador, Mexico's top diplomat said on Friday. He declined to give a time for the phone call or the location for Tesla's Mexico investment. "It will be talked about in the call," said Ebrard, who spoke at an event with Mexican business leaders. Several potential sites have been pitched for Tesla's move to Mexico, with Lopez Obrador saying earlier this month that the states of Nuevo Leon and Hidalgo were leading the race. Reporting by Ana Isabel Martinez in Mexico City Additional reporting by Daina Beth Solomon in Mexico City Writing by Kylie Madry and Stephen Eisenhammer Editing by Brendan O'Boyle and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

☆ Exclusive: After costly bond issue, Mexico's Pemex banks on high oil prices to pay off debt -sources
▼ + stars: | 2023-02-15 | by ( Ana Isabel Martinez | ) www.reuters.com time to read: +4 min

The high cost of borrowing forced a recalibration in Pemex and renewed determination to avoid the market, two company sources familiar with the matter said. Pemex has said it must pay back some $8 billion of financial debt this year and $8.7 billion next. But both sources said Pemex was banking on high crude oil prices to maintain the investments for this year as well as meet its financial obligations - without issuing more bonds. Financial debt started ballooning years ago when the oil company took on debt to pay its debts. Pemex declined to reveal the total value of debt payments due and Reuters was unable to independently calculate the figure.

☆ Salvadoran girls found on Rio Grande at U.S.-Mexico border
▼ + stars: | 2023-01-12 | by ( ) www.reuters.com time to read: +1 min

Mexico National Immigration Institute (INM)/Handout via REUTERSMEXICO CITY, Jan 12 (Reuters) - Mexican immigration agents found three unaccompanied Salvadoran children stranded on an islet on the Rio Grande, which straddles the U.S.-Mexico border, Mexico's immigration institute said. Members of Mexico's National Guard first issued an alert for the children, according to the institute. Salvadoran consulate officials in Mexico were aware of the incident and in talks with local authorities, El Salvador's foreign ministry said. Rio Grande crossing dividing the United States and Mexico is one of the last hurdles migrants face before reaching the United States, often after arduous journeys. The three children were placed in the care of Mexico's System for the Integral Development of the Family (DIF), the immigration institute said.

☆ Salvadoran lawmakers pass digital asset issuance law in bitcoin haven
▼ + stars: | 2023-01-11 | by ( Nelson Renteria | ) www.reuters.com time to read: +2 min

"The purpose of this law is to establish the legal framework that grants legal certainty to transfer operations to any title of digital assets used in public issuance offers," according to the legislation. Public offerings may be made by issuers using existing digital assets, with the opportunity to create new ones through them, the law indicates. The law also establishes the creation of the National Commission for Digital Assets and the Bitcoin Funds Administration Agency, which will be in charge of managing, safeguarding, and investing the funds from public offerings of digital assets carried out by the government. It also would not apply to digital assets that by law are legal tender such as bitcoin, in addition to the video game ecosystem or Non-Fungible Tokens. Nonetheless, President Bukele shared on Twitter a message from the country's bitcoin office saying the law also paves the way for volcano bonds to be issued soon.

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