Mexico - 02

Mexico: CCE Head Publicly Voices Concerns About Pemex

On 14 March CCE President Juan Castanon used his weekly message to address the state of affairs at Pemex ahead of the celebration of the 78th anniversary of the company’s founding on 21 March. Notably, Castanon did not make any effort to soften his tone. He emphasized that the crisis Pemex is experiencing now is the worst in its history and goes well beyond any liquidity problem, as the company has reported financial losses over the past 11 years – even with high oil prices.


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