Tuesday, June 25, 2019

Pemex CEO Questions Ratings Downgrade

March 18, 2019

Pemex CEO Octavio Romero Oropeza (Photo: Pemex)

The chief executive of Mexican state oil company Pemex on Monday questioned credit agency downgrades to the firm's debt, saying the same agencies had not acted when the company's investment and oil exploration activity diminished under past governments.

Octavio Romero Oropeza, speaking at a news conference, said investment in the struggling company was expected to jump 212 percent this year, and that its oil production would rebound to 2.48 million barrels per day by 2024.

(Reporting by Daina Beth Solomon; Editing by Frank Jack Daniel)

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