Finance Ministry, Pemex Meet With Investors

Instant Max AI

(Pemex, 19.Apr.2016) – The Minister of Finance and Public Credit, Luis Videgaray, and the Pemex CEO José Antonio González Anaya, met in New York with investors, analysts, and executives of financial institutions to emphasize the economic prospects of the company and investment opportunities that resulted from the implementation of the Energy Reform.

During his two day visit, González Anaya also held meetings with executives of Standard and Poor’s, Moody’s and Fitch rating agencies, as well as financial institutions Goldman Sachs and JP Morgan, where he stressed the relevance of Pemex for the country’s economic development.

Additionally, he shared that alongside the attained budget announcement, Pemex works in the design and implementation of a broad strategy of alliances and associations that will increase the profitability of the company in view of the fall of crude oil prices worldwide.

During the second day of the visit, Pemex’s CEO and Minister Videgaray held two meetings with investors focused on Latin America, during which they reassured the financial support of the Federal Government to Pemex through the injection of liquidity to the company for a total amount of 73.5 billion pesos, and a reduction of its fiscal burden by up to 50 billion pesos for 2016.

During the meetings, investors displayed interest in the measures taken to address the current environment of the oil industry and the possibilities of alliance with the State Productive Company.

González Anaya highlighted that these encounters are a reflection of the high level of interest and trust that the financial community has in Mexico and Pemex.

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