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Fitch: PEMEX Safety Incidents Will Challenge Production Growth Target

MEXICO
  • PEMEX's reported fires at its Ku-Maloob-Zaap (KMZ) production fields may slow the company's production growth rates, as this field is the company's largest production complex, according to Fitch Ratings.
  • As per the report:
  • "Fitch's current rating case assumes that the company's production levels will stabilize going forward due to increased investments in exploration and production, as well as a manageable decline in production from mature fields. An acceleration of the company's production decline rate in mature fields will make it difficult to achieve its production targets and add more pressure to its already negative FCF, which Fitch expects to average approximately negative USD12 billion per year over the next three years."
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