Pemex’s low rating is not surprising at all: Secretaría de Hacienda

Undersecretary of Secretaría de Hacienda y Crédito Público, Arturo Herrera Gutiérrez, expressed that the downgrade of Fitch’s rating to Petróleos Mexicanos (Pemex) is not a surprise but it’s still a reason to worry, since it reflects the conditions in which the oil company is. “One thing is that it does not surprise us, but it does worry us. We were very clear when we observed the development of Pemex, for nobody this was surprising, “he said.

Herrera Gutiérrez considered that what is clear is that the federal government will have to look for tax resources that is why the importance of eliminating universal compensation, and at the same time seeking support for Pemex.

He explained that another of the objectives is to change the fiscal treatment of Pemex so that the water wells that are closed, can be profitable and the oil company can increase its production.