pemex

Mexico announced $4 billion in aid for struggling Pemex

April 13, 2016

The Mexican government announced more than $4 billion in aid Wednesday for state oil company Petroleos Mexicanos - Pemex, whose finances, production and exploration projects have been hit by the fall in crude prices.

The package will include a direct infusion of $1.5 billion to the company better known as Pemex, the Treasury Department said in a statement. The government will also provide over $2.6 billion to pay company pensions and retirements this year.

In return, the government wants Pemex to commit to reducing its liabilities and debt by the same amount.

[divider style="solid" top="20" bottom="20 . . .

This independent news site is supported by subscribers.



Trending News on PVDN

  • US House Halts $60M Aid to Mexico Over Fentanyl Trafficking ConcernsUS House Halts $60M Aid to Mexico Over Fentanyl Trafficking Concerns PUERTO VALLARTA - Yesterday, the United States House of Representatives approved an amendment to halt just over $60 million in aid projects destined for Mexico. This action is seen as a response to the perceived "lack of will" by President Andrés Manuel López Obrador’s government in combating fentanyl trafficking, a sentiment echoed by the Republican…
  • Exhausted Sea Lion Rescued off Puerto Vallarta Coast after Remarkable 2,000 Kilometer SwimExhausted Sea Lion Rescued off Puerto Vallarta Coast after Remarkable 2,000 Kilometer Swim PUERTO VALLARTA - On Wednesday afternoon, the Marine Mammal Research Group (Grimma) rescued a malnourished and fatigued sea lion off the coast of Puerto Vallarta, Jalisco. The team secured authorization from the Federal Protection Attorney’s Office for the Environment before embarking on the rescue operation. This particular sea lion belongs to the species Arctocephalus townsendi,…
  • Decapitated Body Found in Puerto Vallarta Sparks InvestigationDecapitated Body Found in Puerto Vallarta Sparks Investigation PUERTO VALLARTA - In a shocking development, a decapitated body was discovered on Wednesday afternoon in the southern region of Puerto Vallarta. As of now, the identity of the individual and the cause of death remain undetermined. The local authorities were alerted to the gruesome discovery through a 911 report, prompting an immediate response from…
  • Mismaloya Residents Protest Against Forced Evictions of 80 Residents of Puerto VallartaMismaloya Residents Protest Against Forced Evictions of 80 Residents of Puerto Vallarta The coastal town of Mismaloya, in Puerto Vallarta, witnessed a peaceful demonstration on Wednesday, where residents sought justice from the President of Mexico, Andrés Manuel López Obrador, amidst a severe land dispute threatening their homes. Around 80 concerned residents assembled by the side of Federal Highway 200, earnestly awaiting updates from their representatives at the…
  • Puerto Vallarta Gains Prominent Nominations at the LGBTIQ Travel Awards Mexico 2023Puerto Vallarta Gains Prominent Nominations at the LGBTIQ Travel Awards Mexico 2023 PUERTO VALLARTA - Puerto Vallarta, renowned for its efforts and dedication towards fostering a hospitable environment for the LGBTIQ community, once again emerges as a frontrunner in inclusive tourism at a national level. The city has been nominated in five categories at the illustrious LGBTIQ Travel Awards Mexico 2023, celebrating its enduring commitment to pink…
  • Notorious Criminal Edgar Salvador Casian-García Extradited to the US After Arrest in Puerto VallartaNotorious Criminal Edgar Salvador Casian-García Extradited to the US After Arrest in Puerto Vallarta PUERTO VALLARTA - The Mexican Attorney General's Office (FGR) recently disclosed the extradition of Edgar Salvador Casian-García to the United States, marking a significant capture of one of America's most wanted individuals after his arrest in Puerto Vallarta. Casian-García faces grave charges, including homicide, rape, and causing bodily harm. The extradition follows a horrific tale…
  • Approximately 866,300 Children in Mexico Are Used in Child LaborApproximately 866,300 Children in Mexico Are Used in Child Labor PUERTO VALLARTA - Mexico continues to grapple with the grim reality of child labor, with girls, boys, and adolescents being subjected to its most severe forms, such as sexual exploitation and involvement in drug production and trafficking. Despite the efforts to curb this menace, a recent report by the United States government suggests that only…
  • Health Officials Underscore Ongoing Threat of Dengue in Puerto VallartaHealth Officials Underscore Ongoing Threat of Dengue in Puerto Vallarta PUERTO VALLARTA - In a renewed call to remain vigilant against Dengue, health officials reassert their unyielding dedication to battling the vectors that contribute to the proliferation of this disease. Despite four confirmed cases in Puerto Vallarta, the risk lingers, primarily due to the persistent breeding sites for the Aedes Aegypti mosquito, the primary vector…