translated from Spanish: Mexican government to help Pemex until 2021

MEXICO City.-President Andrés Manuel López Obrador declared that his government will support Pemex with all the budget it needs and tax exemptions until 2021. By then Petroleos Mexicanos (Pemex) has reached stability, increased the Production and achieved the capacity to finance the development of the country the remainder of its administration, said the president. The company is heavily indebted and with the production diminished after years when the governments financed with the profits of Pemex instead of reinvesting in it.

López Obrador considers it a priority to return to the state its old prosperity. Photo: Reforma.

López Obrador considers it a priority to return to the state its old prosperity. He has sent the army to pursue the criminal gangs that steal fuel from the pipelines and promised to build a new refinery despite the fact that the experts question the financial logic of the work. Hours later on Wednesday, the Public Service Secretariat announced sanctions against two high-ranking Pemex employees who are accused of financial irregularities.

The Public Service secretariat announced sanctions against two high-ranking Pemex employees. Photo: Reforma

Without providing their identities, the secretariat stated in a statement that one could be disabled from public office for 15 years and another by 10. One of the employees also received an economic penalty for more than 620 million pesos (32 million dollars) By an alleged overpayment for that amount to an industrial plant.

Original source in Spanish