Mexico will award 15 contracts to the private sector for oil production

After opening to bank financing, the economy in Mexico has improved satisfactorily. Resuming collaboration with the private sector in the nation opens the way to the exploitation of oil resources with the objective of complementing the public investment planned for next year of some 86,000 million pesos equivalent to 4,400 million dollars.

For his part, the Secretary of the Treasury, Arturo Herrera, informed that Pemex will grant 15 tenders to private companies. In addition, Octavio Romero Oropeza, director of the state-owned company Petróleos Mexicanos, indicated that these awards are part of agreements formulated under a public-private partnership model. “Pemex makes clear its opening to business schemes with the private sector, under strict care of its interests, with fair and transparent agreements”, he said.

After the deep crisis that the state oil company Pemex was going through due to the lack of production and a debt that exceeded 106,000 million dollars and that also opened large gaps in the nation’s finances, they have made the Mexican Government implement strategies that give a respite from the financial slopes of the Pemex company as well as the country’s economy.

One of them is the support received by three investment banks, which have made debt in the state a manageable scenario. Even though Mexico remains a net producer of crude oil, although not gasoline, the energy sector has also been affected not only in the loss of gross domestic product but also in tax revenues.

The refinancing of the state has become a core objective of the management of López Obrador, in that sense he has dedicated his mandate to the design of a program for the recovery of the largest oil company in the country.

K.Villarroel

Source: elpaís