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The Initiatives Applied by Pemex To Have a Positive Impact on its 2018 Balance Sheet of 30 Billion Pesos


Petróleos Mexicanos reports that, while complying with the strategies of its 2017-2021 Business Plan and due to a more favorable economic environment for the oil industry, the company currently estimates that it will strengthen its financial indicators and improve its 2018 balance sheet, through the application of a series of operating and commercial strategies in various business lines, which will exceed the goal approved by Congress in 2017 and reduce its debt ratio.

As a direct result of the efforts of the past few months, Pemex has applied measures that could increase the efficiency of expenditure and generate additional income, which could improve the deficit by 30 billion pesos. In this regard, Pemex’s balance sheet for 2018 is estimated to yield a deficit of 49.414 billion pesos, which is an improvement from the deficit of 79.414 billion pesos that was approved as a goal for 2018. It is important to emphasize that this estimate maintains a downward trend when compared to the deficits of 2016 and 2017, which amounted to 101.660 and 93.741 billion pesos respectively, and thus improves the original forecast established in the Business Plan.

Among the initiatives that have already been set in motion and those that will contribute to improving the balance sheet in the future, the following are most prominent: a sustained focus on profitability and integrated operations from the financial management of Pemex and its subsidiary companies; a gradual improvement of the productivity of the National Refinery System starting in the second half of the year, which results from the major overhaul and maintenance performed on Pemex refineries, divestiture of non-strategic assets, and additional income derived from the marketing of exploration information. These measures, in addition to the improvements in the company’s management, increased efficiency and expenditure discipline established in 2016, are a consequence of an operation that adheres to the best international practices.

Pemex’s management reaffirms its commitment to inform the investment community, its clients, partners, suppliers, contractors, regulating agencies and the general public in due course and with the greatest possible transparency of any relevant information, as well as to continue analyzing and developing actions directed towards a progressive reduction of its debt ratio and a continuous increase of its competitiveness and value generation.

Las menciones de Pemex pueden referirse a Petróleos Mexicanos o a cualquiera de sus Empresas Productivas Subsidiarias.

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