LATEST ON PETROLEOS MEXICANOS

In its latest report, the Superior Audit Office of the Federation (ASF) indicated that the subsidiary Pemex Fertilizantes lost 21 billion 174 million 48 thousand pesos in 2017, equivalent to 79.7% of its assets, mainly due to the acquisition of Pro Agro and Fertinal.

The measures announced by President Lopez Obrador will allow Pemex to conserve more of its cash flow to invest in its business, but they are still far from the company's needs, says rating agency Fitch Ratings.

Pemex is the biggest weakness factor in the Mexican economy and despite the refinancing of its debt, announced by the federal government, the question remains whether it can sustain itself and fulfill its long-term commitments because it is the most indebted oil company in the world, said Fernando López Macari, president of the Mexican Institute of...