PEMEX is the world’s most indebted energy company with a US$105.8 billion long-term debt


Mexico’s state-owned Petróleos Mexicanos (Pemex) retains the title as the world’s most indebted energy company with long-term debt of $105.8 billion but continues to boost production while making significant inroads to reduce flared volumes and greenhouse-gas (GHG) emissions.

Pemex reported average hydrocarbon production of 2.64 MMboe/d in the third quarter of 2023, up 4% annually compared to 2.54 MMboe/d in the second quarter of 2022, the company announced on Oct. 27 in its quarterly financial and operations press release.

The company’s exploration and production strategy focuses on the “accelerated development of new fields, the reduction of times between development and start-up, the early incorporation of production from exploratory wells, as well as the mitigation of the declination of mature fields, mostly onshore and shallow waters,” Pemex said in the release.

Source: OEM

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