The global economic crisis, low oil prices and losses in its finances have caused the huge investment announced by Petroleos Mexicanos (Pemex) in the outer harbor of A Coruna in Spain, to stop. El Confidencial "the evaporation of investments from China and Mexico calls into question once again a multimillion work, which was carried out against numerous technical criteria forced by the sea and the huge environmental impact. "

This contrasts with the Spanish company OHL. In Mexico, how gets billions of pesos of government works for the government. One of the most famous cases is that of 4.5bn pesos from the National Bank of Public Works and Services (Banobras). But it is not the only case and it is the only Spanish company that receives public money to fulfill public works.

The report states that in August 2012, in an official ceremony with the CEO of Pemex Emilio Lozoya Austin, which was broadcast live on television and the independent radio Galicia, it was specified that the Mexican Oil Company would install abroad port logistics base throughout Europe, with an investment of 58 Million Euros.

Also respect to the Chinese capital coming from Beijing amounting to 270 million euros to implement an industrial plant in the energy sector 

However, "after four years, there is no trace of either investment." As recently denounced the Spanish Socialist Workers Party (PSOE), Beijing has canceled the contract, while the Port Authority says that "negotiations continue".

As for Pemex, El  Confidencial  says "simply no news, as it is subjected to the brunt of the fall in oil prices, and with losses in 2014 of 17.9 Bn euros. Back in February, Pemex announced a cut in their budgets for 2015 of 11.5 percent, a snip of 3.6 Bn euros. Works based in Galicia, in any case, should have started in 2013 and concluded the following year. "

The Foreign Port of A Coruña is a project that began with the Spanish President José María Aznar, was consolidated with Jose Luis Rodriguez Zapatero and Mariano Rajoy continues. "It was hoped that the millions of Pemex and the Chinese would give them some use their expensive docks, but both investments are stagnant, if not discarded, so the only really attractive activity in the area is the removal of barnacles , "the digital medium in a report signed by Pablo Lopez Vigo.

The steady decline of the production attached to a collapse of oil prices have put in a real bind to PEMEX that needs to increase its debt every year to deal with taxes, capital investments and its high personnel costs and taxes.

In late February this year, the media office of the "Oil Praza" told that although "they had not canceled any projects already underway" in relation to flotels, there will be a "necessary review "of others that will be" delayed "in time" until economic conditions improve. " 

Days later, on March 3 this year, Pemex sources told the newspaper La Opinión A Coruña, that "there is no change in advertised while there is no official communication" to be consulted about the possibility of cuts execute, by their affect plant fuels having projected in the

At that time, “El Diario” recorded Pemex as one of the major trading partners of the Government of Galicia signed agreements and also owns the shipyard from Vigo Barreras, is technically bankrupt.

"This is demonstrated by the figures of Pemex with negative equity of 46 billion euros and liabilities that exceed 36 percent of its assets. The global economic crisis and low oil prices affect a situation that has dragged the state company in the last decade, which in just two years is not accumulated losses" ElDiario March 4

At that time he said that savings plans affecting Pemex investments in Galicia, especially in Barreras, where pemex controls 51 percent.

"Nearly a year and a half ago, the company acquired most of the shares for 5 million euros , took its technology and experience and promised renewal of the fleet of large ships or in shipyards for construction of five ships Vigo more small that they came to commit publicly. Everything outside the flotel which already has a facility under construction in the year, "explained the environment in an article by Miguel Pardo.

As for the outer harbor of A Coruña , he said : " Nothing is known of this logistics base that Pemex would be installed in the outer harbor of A Coruña, and whose data has already delayed or fourteen tugs, two chemical and safe construction of the smaller fleet of Mexican oil by companies that promised Galicia Feijoo Over 20 vessels . Company crisis and low oil prices bring no good expectations for the Galician

The latest balance of Pemex , conducted in late July , reported a first half of 2015 with twice the losses in the same period of 2014. Pemex informed the Mexican Stock Exchange ( BMV ) then a net loss of 84.5 million pesos in the second quarter, higher than the same period last year, when recorded a decrease of 52.2 Bn pesos.

This loss of Mexican oil represented an increase of 62 percent compared with the second quarter of 2014. Revenues also declined by 24.5 percent in that period, mainly due to the fall in international oil prices.

In response to these negative figures , this year Pemex announced adjustments to their spending and downsizing . Pemex and the Union of Oil Workers of the Mexican Republic (STPRM) agreed in February to implement a special program to reduce current spending on personal services in 10 billion pesos , equivalent to 16 percent of the budget adjustment amounting Pemex to 62 billion pesos , according to the report.

The CFO , Mario Beauregard said that Pemex will continue to focus on diversifying funding sources . Beauregard said the Mexican company will continue to explore the opportunities offered by the legal framework for capturing competitive

The production of crude oil in the first half of the year, reported, was 2 million 262 thousand barrels per day on average. Natural gas production from January to June 6.442 million cubic feet per day 

Mexico's oil exports recorded an annual fall of 44.2 percent in the first half, a period when the country posted a trade deficit of 4 Bn, he said yesterday the National Institute of Statistics and Geography (INEGI).

Exports from January to June totaled $ 538 million, 2.1 percent lower than the figure achieved in the same period of 2014, the agency said in a statement. Oil sales was plunged 44.2 percent, standing at 12.8 Bn, while non-oil advanced 3.6 percent, to 7.1bn, he said.  

Meanwhile, imports totaled $590 million, 0.2 percent below the amount reported in the first half of 2014. Oil purchases were down 22.2 percent, to settle at 16 bn, while non-oil rose 2.5 percent to $ 496 million.

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