Mexico’s production costs at priority fields are below $5/bbl

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pemex
pemex

Executives at Pemex said they have now achieved their goal of stabilizing years of declines in oil production and that the company is “on a path of production growth and increasing the crude oil processing levels of our refineries.” They also claimed that production costs at the new priority fields are below $5/bbl.

Petróleos Mexicanos reports that, as a result of the responsible and prudent management of its debt, it has reduced cash flow exposure risk, as its revolving credit lines in dollars are 100 per cent available. The total amount the company can immediately access through these credit lines adds up to 7.85 billion dollars. The company also keeps revolving credit lines in national currency for 20 billion pesos.

On the other hand, to date, Petróleos Mexicanos has managed to refinance 5 billion dollars, which is over 70 per cent of its financing program for 2020. pemex.com

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