{"id":19616,"date":"2022-05-17T15:15:44","date_gmt":"2022-05-17T15:15:44","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/petromoc-owes-more-than-six-billion-meticais-to-the-at-and-other-creditors"},"modified":"2022-05-17T15:19:58","modified_gmt":"2022-05-17T15:19:58","slug":"petromoc-owes-more-than-six-billion-meticais-to-the-at-and-other-creditors","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/petromoc-owes-more-than-six-billion-meticais-to-the-at-and-other-creditors","title":{"rendered":"Petromoc owes more than six billion meticais to the AT and other creditors"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>Petr\u00f3leos de Mo\u00e7ambique (Petromoc) owes around six billion meticais to the Mozambican Tax Authority (AT) and other creditors. In addition to debt-related issues, the company\u2019s board of directors says that it is facing other difficulties in sustaining operations.<\/p>\n

Petromoc\u2019s management acknowledges that the company\u2019s accounts are in the red. The firm\u2019s board of directors intends to reduce the debt with creditors in order to make it sustainable.<\/p>\n

\u201cWe have a debt with the Tax Authority estimated at around four billion meticais, and owe another two billion meticais to creditors,\u201d revealed chairman of the board H\u00e9lder Chabisse.<\/p>\n

And the problems don\u2019t stop there. Petromoc claims that the recent fuel price readjustment has only worsened the company\u2019s financial situation.<\/p>\n

Asked about the reactivation of a Petromoc refinery closed in 1984, the manager talked about the need to increase demand. \u201cRight now, the country consumes 1.4 million cubic metres and that is not enough volume to make a refinery profitable. We will have to look to neighbouring countries in order to make the refinery profitable. It will be necessary to make a cost-benefit relationship,\u201d the Petromoc chairman added.<\/p>\n

\u201cFrom August of last year to the present day, the company has faced treasury difficulties, because we are again in a situation of regulatory deficit and, since then, the price of fuel has been adjusted, but not to the level of the price of fuel in the international market,\u201d explains Petromoc financial administrator M\u00e1rio Sitoe.<\/p>\n

Despite these difficulties and challenges, Petromoc\u2019s indicators point to improvements. Sales of goods and services earned the institution more than 19 billion meticais last year, against 16 billion in 2020.<\/p>\n

\u201cThe positive results for 2020 and 2021 show that net results are improving, and that is our perspective, taking into account our business plan and our budget for this and subsequent years. Petromoc will be able to pay the dividends,\u201d Chabisse promised.<\/p>\n

The information was released this Monday during a visit to Pretromoc by parliament\u2019s Planning and Budget Commission.<\/p>\n

By<\/b><\/p>\n

Edmilson Lambo<\/p>\n

For More News And Analysis About Mozambique<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mozambique. Petr\u00f3leos de Mo\u00e7ambique (Petromoc) owes around six billion meticais to the Mozambican Tax Authority (AT) and other creditors. In addition to debt-related issues, the company\u2019s board of directors says that it is facing other difficulties in sustaining operations. Petromoc\u2019s management acknowledges that the company\u2019s accounts are in the red. The firm\u2019s board […]<\/p>\n","protected":false},"author":84,"featured_media":19615,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[233,281,283],"class_list":["post-19616","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"\nPetromoc owes more than six billion meticais to the AT and other creditors - Mozambique<\/title>\n<meta name=\"description\" content=\"Petr\u00f3leos de Mo\u00e7ambique (Petromoc) owes around six billion meticais to the Mozambican Tax Authority (AT) and other credi ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/petromoc-owes-more-than-six-billion-meticais-to-the-at-and-other-creditors\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Petromoc owes more than six billion meticais to the AT and other creditors\" \/>\n<meta property=\"og:description\" content=\"Petr\u00f3leos de Mo\u00e7ambique (Petromoc) owes around six billion meticais to the Mozambican Tax Authority (AT) and other credi ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/petromoc-owes-more-than-six-billion-meticais-to-the-at-and-other-creditors\" \/>\n<meta property=\"og:site_name\" content=\"Mozambique\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-05-17T15:15:44+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-05-17T15:19:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2022\/05\/img-6283bd05391dd.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"730\" \/>\n\t<meta property=\"og:image:height\" content=\"438\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/petromoc-owes-more-than-six-billion-meticais-to-the-at-and-other-creditors#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/petromoc-owes-more-than-six-billion-meticais-to-the-at-and-other-creditors\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Petromoc owes more than six billion meticais to the AT and other creditors\",\"datePublished\":\"2022-05-17T15:15:44+00:00\",\"dateModified\":\"2022-05-17T15:19:58+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/petromoc-owes-more-than-six-billion-meticais-to-the-at-and-other-creditors\"},\"wordCount\":362,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/petromoc-owes-more-than-six-billion-meticais-to-the-at-and-other-creditors#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2022\/05\/img-6283bd05391dd.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mozambique\",\"Mozambique\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mozambique\/all-news\/petromoc-owes-more-than-six-billion-meticais-to-the-at-and-other-creditors#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/petromoc-owes-more-than-six-billion-meticais-to-the-at-and-other-creditors\",\"url\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/petromoc-owes-more-than-six-billion-meticais-to-the-at-and-other-creditors\",\"name\":\"Petromoc owes more than six billion meticais to the AT and other creditors - 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