Pemex takes first hedge payment

Pemex takes first hedge payment

Corporate & Sovereign Strategy Debt Loans Capital Markets Energy Gas Mexico

Mexico's state-owned oil company Pemex said it received the first payment from a hedge that kept prices at $49 per barrel "in the face of falling oil prices in international markets due to the effects of the coronavirus." The hedge covered the month of February, Pemex said in a statement. Since then, oil prices dropped almost as low as $30 per barrel at one point and ended the week around $35 per barrel. Finance Minister Arturo Herrera said earlier this month that Pemex had covered all of its oi

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