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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 CITY (Reuters) - Mexican President Andres Manuel Lopez Obrador's former finance minister is backing the main opposition alliance in next year's presidential election, the opposition's candidate said on Tuesday. "Welcome to this team," Galvez wrote on X, sharing a picture of herself and Urzua, who was finance minister from 2018 to 2019 at the start of Lopez Obrador's presidency. A respected economist, Urzua from 2000 to 2003 was Lopez Obrador's top finance official when he was Mexico City mayor. However, he remains a popular president, and MORENA's candidate to succeed him, former Mexico City Mayor Claudia Sheinbaum, has a commanding lead over Galvez in opinion polls. Galvez heads the main opposition alliance comprising three parties ranging from the center-right to the center-left.
Persons: Andres Manuel Lopez Obrador's, Xochitl Galvez, Carlos Urzua, Lopez, Galvez, Urzua, Lopez Obrador's, Lopez Obrador, Mexico City Mayor Claudia Sheinbaum, Stefanie Eschenbacher, Dave Graham, Cynthia Osterman Organizations: MEXICO CITY, Regeneration, Lopez Obrador's, Mexico City, Mexico City Mayor, ' Movement Locations: MEXICO, Mexico
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