Pemex CEO Says Mexican Government to Take Over Debt Payments
- ‘This is a huge support,’ Romero tells Mexican lawmakers
- Beleaguered state oil company looking to shore up its finances
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Mexico President Andres Manuel Lopez Obrador, the great champion of his beloved but beleaguered state-owned oil giant, may be making his boldest move yet to keep it afloat.
Petroleos Mexicanos chief Octavio Romero told lawmakers Wednesday that AMLO, as the president is known, has instructed the company that it isn’t allowed to issue any more bonds and therefore the government would take over its amortization payments.