Wednesday, January 21, 2015

Pemex to Save $1.45 Billion by 2018

by Murry Page
20 Jan 15
mazmessenger.com

México’s state-owned oil company, Petróleos Mexicanos (Pemex), said that it expects to save more than 21.3 billion pesos ($1.45 billion) by consolidating the procurement process by 2018.
A spokesperson for Pemex said the company has cut its number of procurement offices from 120 to 51, and will further reduce the number to between 20 and 25 by the end of this year.
Pemex said by the end of last year it had already realized about a third of the projected savings from streamlining its purchases of goods and services and expects the remaining two-thirds to be realized by 2018.
The falling price of international oil prices to five-year lows has caused oil companies to reduce their operating costs.
(from Yahoo Finance)

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