Pemex, one of the world's most heavily indebted oil companies with financial liabilities exceeding the colossal sum of $100 billion, has been struggling to keep its head above water in the financial whirlpool it finds itself in. The agency monitoring its progress recently released a statement in which it outlined its expectations for the struggling oil giant. The forecast, however, does not appear to bring any substantial relief to the beleaguered firm.
1. Pemex is one of the world's most heavily indebted oil companies, with financial liabilities exceeding $100 billion.
2. The company has been encountering financial struggles and is trying to stay solvent.
3. A monitoring agency recently released a statement outlining its expectations for Pemex's financial future.
4. The agency predicts a precarious future for Pemex largely due to its massive debt.
5. It is uncertain how the Mexican state-run firm will manage to clear its financial obligations in such a destabilized economic environment.
According to the agency's forecast, Pemex debt is expected to rise to $107 billion by the end of 2021.
The agency elaborated on its expectations, predicting a precarious future for Pemex mainly due to its astronomical debt. Over $100 billion in financial liabilities has unfortunately placed Pemex as one of the most heavily indebted oil companies globally. It forces the question of how the Mexican state-run firm will navigate in such a destabilized economic environment and manage to clear its financial obligations.