Petroleos Mexicanos introduced its Business Plan 2016-2021. This Plan sets out the actions that will allow the productive state enterprise achieve primary surplus next year and achieve financial balance in 2019/2020.
Pemex CEO, Jose Antonio Gonzalez Anaya, said the Business Plan is already running and important advances have been reported. In 2016 it announced in February by 100 billion pesos and even the goal of raised savings exceed budget adjustment will be fulfilled, reaching 35 billion pesos due to austerity measures, 6 billion pesos above schedule. In the same vein, the entire debt with suppliers last year is liquidated or is already timetabled and carried out a corporate restructuring, reducing staff by 40% of senior 2015.
This ambitious adjustment program is in line with the measures implemented by other major oil companies in the world and the fact of having met supports the objectives and goals for the next 5 years.
Gradually, the results have resulted in increased confidence of international markets in the future of Pemex. In so far this year has reduced the risk of Pemex half, has increased the maturity of the debt and was able to return to financial markets like Japan, after many years of not participating.
Gonzalez Anaya, said Pemex is challenged to adjust the cost structure to a scenario of low prices and a historic opportunity to use all the tools that gives you the energy reform promoted by President Enrique Pena Nieto in 2013.
Resulting from the change in its legal framework, Pemex can develop similar to other oil companies in the world operation, allowing you to reverse the loss trend of recent years and share technical, technological and financial risks throughout the value chain.
The Business Plan promotes the formation of alliances throughout the value chain of Pemex as a mechanism to increase investment and efficiency. Gonzalez Anaya stressed that these tools are now a reality and noted as examples the tender is valid for deep water in Trion block and the next migration in shallow waters (in the Ayin and Batsil wells) and onshore fields (Cardenas-Mora and Ogarrio ).
Gonzalez Anaya stressed that the proposed actions will allow to replace the natural decline in production of Cantarell and then stabilize and increase it in the medium term and streamline the operation of refineries and eliminate losses in the National Refining System for the year 2021.
The Plan is available for consultation on the website, details the actions, challenges and opportunities for the following years from conservative scenarios and realistic for each of the subsidiaries productive enterprises parameters, each of which is among the most largest in the world in their respective branches.
The implementation of the Business Plan will allow Pemex to strengthen its current position and remain the flagship company of all Mexicans.
