Sheinbaum affirms progress in Pemex’s security and finances
The president of Mexico, Claudia Sheinbaum Pardo, referred this Wednesday, November 19, to the financial reports of Petróleos Mexicanos, confirming a substantial decrease in the theft of hydrocarbons and an increase in the profits of the parastatal company. These statements come after the oil company acknowledged before United States stock regulators that fuel theft continues to represent one of the most significant operational and financial risks for its business.
During her morning conference at the National Palace, the president was questioned about the admission made by Pemex. In response, Sheinbaum was emphatic in rejecting the idea of a failure in the strategy, highlighting instead the achievements achieved. The head of the federal Executive put the information into perspective, arguing that the general context shows a positive trend.
Controlled risk and declining debt
When addressing the specific mention of huachicol as a risk in official documents, the President explained that, although it is a factor to consider for the company’s income, it does not put in check the operation of Pemex. He highlighted the coordinated work between the management of the oil company, the Ministry of Energy and the Ministry of Finance and Public Credit, which has borne fruit not only in terms of security, but also in the stabilization of finances, achieving a significant reduction in corporate debt.
Sheinbaum explained that the fight against illegal activity has manifested itself on two main fronts. On the one hand, pipeline looting, a practice that involves the illegal drilling of oil and gas pipelines, has decreased significantly. On the other hand, the illegal import of fuels has also been contained, a scheme where the product enters the country evading the payment of taxes by being declared as another merchandise.
The legal market as an indicator of success
The president identified a key indicator of progress: the growth in sales reported by both Pemex and private companies in the sector. According to their analysis, the increase in legal sales volumes at service stations is the strongest evidence that the black market is contracting. When gas stations operated by the parastatal and individuals register an increase in their transactions and, therefore, in their profits, it is demonstrated that the share of illicit fuel in the national market is decreasing.
“If the legal sale of fuel and the profits of Pemex and private companies have increased, it means that illegal refilling at fuel stations decreases, it is the best sign,” said Sheinbaum. Although he acknowledged that the crime persists at a much lower rate, he reiterated his administration’s commitment to combat it until it is completely eradicated, emphasizing that the comprehensive strategy is giving tangible results in the protection of the nation’s energy assets and in the solvency of the country’s main productive company.
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