Pemex nearing sale of fertilizer unit

Fertilizers are non-core businesses for the oil company. Mexican state-owned oil firm Pemex is ready to spin-off its fertilizer business. In the opinion of rating agencies, despite its strong recent efforts to reduce operating costs, the company must still concentrate in rebuilding its proved reserve stock of 8.4 billion barrels of oil equivalent, that fell from 12.1 billion barrels in 2014. To reach the goal, every penny and every gram of concentration counts. A spin-off became an issue again when José Antonio Gonzalez Anaya, Pemex’s CEO (at the time of writing this article. Mr González was named Secretary of Finance on November 27, 2017), openly declared in a presentation at the Wilson Center in Washington D.C., that fertilizers is a […]

Related

“Latin America, the vision of its leaders” A book by Andrés Rugeles and 100 regional leaders

The Colombian Andrés Rugeles has achieved an almost impossible...

Global Tourism Industry on Track for Full Recovery by 2024

The global tourism industry is set to reach, and possibly surpass, pre-pandemic levels by the end of 2024, according to the World Economic Forum (WEF). Five years post-COVID-19, the sector is experiencing a robust resurgence driven by a surge in international travel, improved air connectivity, and strong rebounds in key regions. However, global dynamics must be managed carefully to ensure stable and continuous growth. In 2023, international tourism reached 88% of its 2019 levels, a significant recovery favored by the reopening of Asian markets, as highlighted by the United Nations World Tourism Organization (UNWTO). The Middle East led the way, surpassing pre-pandemic levels by around 20%, with Europe, the Americas, and Africa following close behind at approximately 90% of their […]