{"id":51489,"date":"2023-12-02T18:05:04","date_gmt":"2023-12-02T18:05:04","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/petromoc-pays-bank-debts-and-emerges-from-insolvency"},"modified":"2023-12-02T18:51:56","modified_gmt":"2023-12-02T18:51:56","slug":"petromoc-pays-bank-debts-and-emerges-from-insolvency","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/petromoc-pays-bank-debts-and-emerges-from-insolvency","title":{"rendered":"Petromoc pays bank debts and emerges from insolvency"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>Mozambique\u2019s Minister of Economy and Finance, Max Tonela, recently announced that the company Petro\u0301leos de Moc\u0327ambique (Petromoc) had paid its debts to two creditors in the national banking system, and that the company had therefore emerged from insolvency.<\/p>\n

The state-owned company however continues to face great fiscal risk next year. In 2022, it owed the Tax Authority more than six billion meticais.<\/p>\n

\u201cPetromoc had a debt associated with the historic lack of adjustment in fuel prices, which led to a reduction in the import and sale of petroleum products by private operators,\u201d Minister Tonela told a meeting of Assembly of the Republic deputies.<\/p>\n

Noti\u0301cias says that the company was forced to increase the volume of fuel imports and distribution, even in a context in which sales occurred with negative margins.<\/p>\n

The administrator of the State Participation Management Institute, Toma\u0301s Dimande, predicts that the company\u2019s results this year will be around 1.3 billion meticais in the black.<\/p>\n

By 2019, the company\u2019s debt to banks was around 12 billion meticais, and it was posting annual losses of three billion meticais.<\/p>\n

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

Africa-Press – Mozambique. Mozambique\u2019s Minister of Economy and Finance, Max Tonela, recently announced that the company Petro\u0301leos de Moc\u0327ambique (Petromoc) had paid its debts to two creditors in the national banking system, and that the company had therefore emerged from insolvency. The state-owned company however continues to face great fiscal risk next year. In 2022, […]<\/p>\n","protected":false},"author":84,"featured_media":51488,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,281,283],"class_list":["post-51489","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"\nPetromoc pays bank debts and emerges from insolvency - Mozambique<\/title>\n<meta name=\"description\" content=\"Mozambique\u2019s Minister of Economy and Finance, Max Tonela, recently announced that the company Petro\u0301leos de Moc\u0327ambique ...\" \/>\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-pays-bank-debts-and-emerges-from-insolvency\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Petromoc pays bank debts and emerges from insolvency\" \/>\n<meta property=\"og:description\" content=\"Mozambique\u2019s Minister of Economy and Finance, Max Tonela, recently announced that the company Petro\u0301leos de Moc\u0327ambique ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/petromoc-pays-bank-debts-and-emerges-from-insolvency\" \/>\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=\"2023-12-02T18:05:04+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-12-02T18:51:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/12\/sm_1701530081.986351.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"736\" \/>\n\t<meta property=\"og:image:height\" content=\"489\" \/>\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=\"1 minute\" \/>\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-pays-bank-debts-and-emerges-from-insolvency#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/petromoc-pays-bank-debts-and-emerges-from-insolvency\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Petromoc pays bank debts and emerges from insolvency\",\"datePublished\":\"2023-12-02T18:05:04+00:00\",\"dateModified\":\"2023-12-02T18:51:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/petromoc-pays-bank-debts-and-emerges-from-insolvency\"},\"wordCount\":201,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/petromoc-pays-bank-debts-and-emerges-from-insolvency#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/12\/sm_1701530081.986351.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mozambique\",\"Mozambique\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mozambique\/all-news\/petromoc-pays-bank-debts-and-emerges-from-insolvency#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/petromoc-pays-bank-debts-and-emerges-from-insolvency\",\"url\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/petromoc-pays-bank-debts-and-emerges-from-insolvency\",\"name\":\"Petromoc pays bank debts and emerges from insolvency - 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