Job loss in the cards for Pemex

Mexican state oil company Pemex will slash jobs as part of ongoing cost-cutting measures, newly appointed CEO José Antonio González Anaya said on Friday.

Interviewed for Mexican television, Anaya did not disclose how many people would be affected.

Pemex is burdened by debts in de range of USD 200 billion. On Thursday, the company cut its 2016 budget by USD 5.5 billion. In the third quarter of 2015, Pemex posted losses of USD 10 billion.

After 12 straight quarterly losses, Emilio Lozoya Austin was forced to step down earlier this month.

For more oil and gas news and features on Mexico, click here.

Recent Posts

Petronas makes discovery off Suriname

Petronas has made a third oil and gas discovery in Suriname's offshore Block 52, the Malaysian company announced on Wednesday Read More

6 hours ago

Japan’s JERA slates $32 billion for LNG, renewables, new fuels

Japanese power generation player JERA on Thursday announced plans to invest USD 32 billion in LNG, renewables and new fuels… Read More

7 hours ago

Chevron planning UK North Sea exit

Chevron is planning to exit its North Sea operations after 55 years of activity in the oil hotspot, Reuters reported… Read More

8 hours ago

Seatrium wins yet more FPSO work in Guyana

Seatrium has been awarded a contract by SBM Offshore for the topsides fabrication and integration of an additional FPSO vessel… Read More

15 hours ago

Diamond Offshore seals $350-million Gulf of Mexico deal

Diamond Offshore has secured a USD 350-million extension for an ultra-deepwater drillship deployed for Anadarko Petroleum in the US Gulf… Read More

21 hours ago

ExxonMobil makes deepwater discovery off Angola

ExxonMobil has made a discovery in the Angolan deepwater, the country's energy regulator announced on Monday Read More

1 day ago

This website uses cookies.