Pemex Seeks $30 Billion Investment Budget for 2012, CEO Says
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Petroleos Mexicanos, Latin America’s largest oil producer, is seeking to boost its capital expenditures budget by 22 percent next year to increase output, the company’s chief executive officer said.
The board of Pemex, as the Mexico City-based company is known, approved “a little bit less than” 350 billion pesos ($30.3 billion) for next year’s investments, CEO Juan Jose Suarez Coppel said yesterday in an interview with Radio Formula. Pemex’s investment plan requires approval by Mexico’s finance ministry, Suarez Coppel said, according to a transcript of the interview posted today on the company’s website.